April 23 aluminum market morning review

Shanghai aluminum opened low and went high on Wednesday, and as of the close of 3 p.
m.
, the main contract of Shanghai aluminum closed up at 12195 yuan / ton, up 60 yuan, or 0.
49%.

Europe and the United States will restart the economy and crude oil prices rebound to boost the rebound in aluminum prices, overnight London Stock Exchange three-month aluminum prices closed above $1520 / ton, up 2%.

In terms of the market, yesterday's domestic morning spot market transaction was acceptable, middlemen still showed a good willingness to receive goods, downstream on-demand procurement
.
The mainstream trading price in Shanghai is around 12260 yuan / ton, which is about 40 higher than the futures
.
The mainstream transaction price in Guangdong is around 12330 yuan / ton
.

Since late March, the scope of production reduction and maintenance of domestic smelters has been expanded, and the production reduction has now exceeded 800,000 tons; However, due to the continuous impact of the epidemic, overseas orders have declined significantly, downstream demand is still difficult to say optimistic, coupled with the price of alumina has fallen to a low level, aluminum plants have increased their willingness to purchase raw materials, reducing the production reduction expectations of aluminum plants, aluminum prices have limited upside, and aluminum prices are stable in the short term, and the main force of Shanghai aluminum continues to focus on oscillations between 1.
21-12,300, and the lower support is 12,000.