May 24 Lun aluminum morning review

In terms of the market, as of May 23, the spot price of London copper was 5661 US dollars / ton, a discount of 19 US dollars / ton compared with the March contract; London copper stocks were 329,900 tons, down 2,425 tons from the previous day; copper stocks in the previous period were 68,600 tons, down 300 tons from the previous day; based on the closing price of Shanghai copper, the actual ratio of Shanghai copper 3 contract to London copper March contract was 8.
07 (import ratio was 8.
15), and the import loss was 287 yuan / ton (excluding financing gains).

In terms of industry, data released by the International Aluminium Association (IAI) showed that global aluminum production in April was 4.
876 million tons, down 16,000 tons from March but up 242,000 tons
from the same period last year.
China's daily average aluminum production rose to 92,200 tonnes in April compared to 87,300 tonnes
in March, IAI added.
China's aluminum production was 2.
766 million mt in April and 2.
707 million mt
in March.
The surplus of copper and aluminum is still serious, which inhibits the upside
of copper and aluminum prices.