The fundamentals have not changed significantly, and aluminum is still under pressure above

In terms of external disk, Lun aluminum opened at 1501 US dollars / ton
in the morning.
During the Asian session, London aluminum maintained a narrow range of oscillations before the afternoon, touching $1505 / ton
several times.
In the afternoon, Lun aluminum weakened, and as of 15:00, Lun aluminum was reported at 1496.
5 US dollars / ton
.
During the European session, Lun aluminum continued to be weak, and the low once touched 1485 US dollars / ton
.
As of 17:38, Lun aluminum was reported at $1492.
5 / ton
.
Crude oil closed up more than 16%, non-ferrous metals as a whole were boosted, and benchmark prices rebounded significantly, but because the epidemic was not controlled before the support for aluminum prices was relatively limited, the current trend of aluminum and oil prices is highly
correlated.
Pay attention to the Saudi Arabian and Russian crude oil production cuts during the Qingming holiday, if the production cuts are implemented, Lun aluminum is expected to be boosted again by a slight rebound
.

In the spot market, aluminum prices fluctuated up before
noon.
In the morning, Shanghai Wuxi area of the holder quotation between 11600-11610 yuan / ton, from the previous day price rose more than 300 yuan / ton around, after 10:30 the plate price has fallen, the holder's quotation concentrated between 11570-11590 yuan / ton, the noon market price to the plate discount 20 yuan / ton to Pingshui nearby, Hangzhou area price in the morning concentrated between 11630-11650 yuan / ton, the transaction is rare, after 10:30 fell back to 11570-11590 yuan / ton / Tons between
.
On the last spot trading day before the Qingming Festival, the willingness to stock downstream was higher than in the previous period, and the signs of intraday stocking were more obvious
.
The overall transaction in East China was acceptable
.
In the late afternoon, the center of gravity of aluminum sank, and the price of the holder was between 11530-11540 yuan / ton, and the discount on the plate surface was around 20 yuan / ton, only a small number of transactions between traders, and there was almost no
downstream.

Buoyed by higher crude oil prices, non-ferrous metals generally rebounded
significantly.
However, the current domestic fundamentals have not changed significantly, and it is still necessary to pay attention to the implementation of domestic consumption stimulation policies and the new production reduction of
electrolytic aluminum enterprises.
At present, the consumer side is mainly affected by overseas export orders, and before the epidemic is under control, in addition to the macro disturbance caused by changes in the overall benchmark price of non-ferrous metals, Shanghai aluminum as a whole is still under pressure
.