Short long profit-taking aluminum prices gave up some of the gains

In terms of external trading, London aluminum opened at 2343 US dollars / ton in the morning, and Lun aluminum basically remained stable above the daily moving average during the Asian session, and the shock reached a high of 2372 US dollars / ton, entering the European trading session The US dollar index rose strongly, the high touched 93.
084 recorded a high this year, the base metal was under pressure to leak, but Lun aluminum showed strong resistance to decline, the overall re-fell slightly, but the decline was the smallest in the base metal, as of 18:22, Lun aluminum reported 2354.
5 US dollars / ton, In the short term
, it is expected that Lun aluminum will continue to fluctuate at a high level.

From a domestic point of view, on the one hand, the high price of alumina and the cost support caused by the government fund levied on aluminum enterprises with captive power plants, on the other hand, the current supply and demand pressure is really not large, although the absolute number of inventories is still at a historical high, and downstream consumption performance is not good, but at the same time the spot market can be circulated very limited, the discount is collected to around 20 yuan / ton, in addition, although the United States has postponed sanctions against RUSAL, but the CEO of RUSAL previously said that it will not give up its equity in RUSAL.
Rusal will still face pressure from the United States in the later stage, but it is true that the current market has not yet had a clear and prominent pricing logic, so aluminum prices have not come out of the strong unilateral market, short-term is expected that aluminum prices will maintain a slightly stronger pattern, continue to pay attention to alumina prices, spot discount changes and Rusal
.

In terms of spot, the Shanghai transaction concentration was 14620~14640 yuan / ton, the discount was 10 yuan / ton to Pingshui in the month, the Wuxi transaction concentration was 14630~14640 yuan / ton, and the Hangzhou transaction concentration was 14660~14670 yuan / ton
.
The spot discount narrowed rapidly, smelter shipments were less, traders increased their shipments, middlemen's willingness to receive goods fell, downstream on-demand procurement, and the overall transaction fell
from the previous day.
In the late afternoon, aluminum was weak and shocked in the month, and the transaction price in East China was 14600~14620 yuan / ton
.

In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 864106 tons, an increase of 3,500 tons
over the previous trading day.
As of May 4, LME ingot inventories were 1310650 tonnes, down 8,650 tonnes
from the previous session.

Industry information, on May 8, China Customs data showed that China's exports of unwrought aluminum and aluminum products in April were 451,000 tons, an increase of 4.
9% year-on-year, and a decrease of 1,000 tons
from March.
In the first four months of 2018, China exported 1.
72 million tons of unwrought aluminum and aluminum products, an increase of 13.
2%
year-on-year.

On the whole, the price of Shanghai aluminum is at a high level, downstream demand is gradually improving, and the price of alumina has risen, increasing the cost of
electrolytic aluminum.
Technically, KDJ indicators are long arranged, MACD green column shortened, and it is expected that the main force of Shanghai aluminum 1806 oscillation operation, operating range 14400-14900, for reference
only.