Nandu Futures: Aluminium turns, narrow oscillation of Shanghai aluminum
Yesterday, LME Aluminum opened at 1869 with a high of 1888.5 and closed at 1880 with a volume of 209,669 lots. The position increased 3,188 lots, and the inventory was 51,975 lots, a decrease of 3,150 lots. The further reduction of inventory, and the new demand for reconstruction of the Gulf of America and global inflation caused the need to maintain the value of basic metals, and the overall market sentiment was strong.
Shanghai's main contract 0511, opened at 16,950 yuan, the higher price was 16,600 yuan, the volume was only 2290 hands, closing up 30 yuan. Although China is a large producer and consumer of aluminum, due to higher transaction costs and reduced liquidity of commodities, Lun Aluminum has a minimal impact on Shanghai Aluminum. Today, the exchange's aluminum stocks were 51,975 hands, a drop of 3,150 contracts. Shanghai Alcoa rolled across the board and several contracts all closed up, but there was little change in trading volume and positions, and the market was still relatively light. This was the increase in demand caused by the company's stocking before the May 1 holiday. It is estimated that the aluminum market in Shanghai will increase slightly in the past few days.
Operational advice: London aluminum can wait for opportunities to intervene, Shanghai aluminum wait and see
Nandu Futures Lu Xiaohua
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