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The main contract of Shanghai aluminum futures closed at 20575 yuan / ton on Tuesday.Crashbandicootprototype, down 0.Crashbandicootprototype.29%. The inventory of aluminum futures decreased, the social inventory of domestic electrolytic aluminum ingots decreased, and the operating rate of leading enterprises increased. Pioneer Futures and Huatai Futures are optimistic about aluminum prices, and aluminum prices are expected to remain high after the festival.


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[Shanghai aluminum futures showed a weak performance on Tuesday, closing at 20575 yuan / ton] the main contract of Shanghai aluminum futures showed a volatile trend on Tuesday, closing at 20575 yuan / ton, down 0.29% from the previous trading day. The whole-day trading range fluctuated between 20490 yuan and 20725 yuan per ton, with the position reduced to 212955 lots, a decrease of 13738 hands compared with the previous month. [inventory and operating rate] as of April 30, aluminum futures warehouse receipts were 126227 tons, down 1625 tons from the previous trading day. The domestic stock of electrolytic aluminum ingots is 791000 tons, which is 40500 tons less than that of the same period last week. Last week, the operating rate of domestic leading aluminum processing enterprises rose 0.2 percentage points month-on-month to 64.4%. [institutional comments] pioneering futures pointed out that LME aluminum prices fell for a time during the May Day holiday, but then rebounded slightly to close at US $2551 / ton, a weekly decline of 0.39%. Weekly LME aluminum inventory was 487800 tons, a weekly decrease of 6400 tons. Huatai Futures predicts that the new domestic electrolytic aluminum production capacity will be about 500000 tons in the second quarter, at the same time, the resumption process of production capacity will be accelerated, and the output is expected to increase gradually. At present, the import window is closed in stages, the macro mood remains strong, and aluminum prices are running high. High prices have a certain restraint on downstream consumption, and the pace of removing aluminum ingots and bars from inventory has slowed down. Follow-up need to continue to pay attention to import profits and losses, Yunnan electrolytic aluminum resumption progress and the impact of Russian aluminum sanctions.

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