Today, with the buoyancy of domestic commodity futures, the Shanghai Aluminum Index, which is a bit weak, has also risen by RMB 30. The trading volume was more active than the previous day, and the interest in positions fell to some extent. Among them, the main contract 507 was opened at 16750, the daily high was at 16780, the daily low was 16670, and it closed at 16740. LME aluminum inventories have increased substantially for the second consecutive day. This involves the issue of delivery of option expiration dates. The author will continue to track and discuss them in tomorrow's technical solution. According to data released by the United States, the PPI rose by 4.9% year-on-year in March, and the core PPI grew by 2.6% year-on-year, which did not support the dollar. The next US CPI that will be announced in the next month will further reflect whether the pressure of inflation has weakened. The United States and Energy are a wave of rally. Domestically, in the recent quarter, the National Bureau of Statistics announced that aluminum production in the first quarter was 1,656,700 tons, a year-on-year increase of 14.3%; alumina production was 191,200 tons, a year-on-year increase of 16.4%, both within market expectations. The confusing policy has caused the pressure on the domestic aluminum market. Operational advice: wait and see.
