Shanghai aluminum is weak operation, market trading activity rebounded slightly

Today's London aluminum is weak and volatile, LME three-month aluminum Beijing time at 15:01 at 2259 US dollars / ton, down 1 US dollars, or 0.
04%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River was 17360-17400 yuan / ton, down 130 yuan; Guangdong South Reserve reported 17370-17430 yuan / ton, down 110 yuan; Hua reported 17480-17500 yuan / ton, down 120 yuan
.
Holders slightly raised prices, receivers were more active, large households were more enthusiastic in receiving goods, and transaction activity rebounded
slightly.

In the industry, on April 06, the domestic electrolytic aluminum social inventory was 1.
233 million tons, a decrease of 09,000 tons
.
As of early March, the national electrolytic aluminum operating capacity reached 39.
68 million tons, the effective built production capacity was 43.
54 million tons, and the operating rate of electrolytic aluminum enterprises was 91.
1%.

In terms of raw materials, from the cost side, alumina production increased significantly year-on-year, prices are still running at a low level, pre-baked anode manufacturers have strong raw material support, and prices have risen as scheduled; Inner Mongolia energy consumption dual control continuous fermentation compression electrolytic aluminum production capacity
.
On the demand side, aluminum die-casting companies are facing cost pressure, the current demand is still just bargain hunting, raw material inventory levels are low, the automotive industry due to the "lack of cores", the production of parts of the enterprise orders have decreased
.

On the whole, the expected narrowing of supply brought about by carbon neutrality continues to have an impact, consumption expectations are better, inventory inflection points may have arrived, and rumors of storage dumping are unresolved as the current risk point
.
It is recommended that the range be more involved, pay attention to the mid-line bargain layout and long opportunities, and options are temporarily wait-and-see
.