May 12 aluminum market morning review

Shanghai aluminum continued to be strong, as of the close of 3 pm on Monday, the main 2007 contract of Shanghai aluminum closed up at 12535, up 130, or 1.
05%; Overnight aluminum prices fluctuated repeatedly, and the three-month aluminum price on the London Stock Exchange closed slightly above $1496.
5 / ton
.

The morning spot market is still active, with frequent interaction between trading parties and downstream on-demand purchases
.
The mainstream trading price in Shanghai is around 13,010 yuan / ton, which is about 80 higher than futures
.
The mainstream transaction price in Guangdong is around 13020 yuan / ton
.
According to data from the China Association of Automobile Manufacturers, automobile production and sales in April achieved year-on-year growth, reflecting the rapid recovery
of automotive aluminum consumption.
Although there are greater concerns about insufficient consumption stamina, the current domestic consumption situation is still strong, promoting further inventory dematerialization and continuing to support short-term aluminum prices
.
However, rising prices and improved profits have boosted smelter demand for value preservation, curbing price upside
.

Recently, the strong spot to the domestic market to form a strong support, short-term consumption still maintain the level of the peak season, but the current external trend is poor, Shanghai aluminum technology form began to weaken, short-term rush high power is insufficient, at the same time in the context of the Shanghai ratio continues to rise, the primary aluminum import window opens, the medium term should be vigilant of the risk of pullback, Shanghai aluminum main contract temporarily concerned in the range of 1.
24-12,700 oscillation, below the support of 12000, spot aluminum is expected to continue a small upward trend
.