On April 15th, Shanghai Aluminum Futures rallied and rebounded. The market closed slightly higher. Analysts in the industry believe that Shanghai Aluminum will maintain its short-term volatility. On Friday, April 15, the Shanghai Futures Exchange's (SHFE) aluminum main 506 contract opened at 16,600 yuan and oscillated upward. It closed at 16,700 yuan, up 90 yuan. Spot 504 contract closed at 16,730 yuan, up 140 yuan. Shanghai Jinpeng Futures Analyst Li Ling believes that this week (April 11-15) Lun Aluminum experienced a substantial decline in the aluminum price of the fund's liquidation position. Through continuous decline for three consecutive trading days, aluminum prices have already reached the moving average portfolio. At the bottom, technically, aluminum prices will receive support at 1,800 US dollars, but on the 14th, Lon Aluminium’s positions have increased by 12589 to 425,271 lots, which is detached from the previous low level of nearly 410,000 million tons, and the spot premium has also expanded. To 13--14 US dollars, there are indications that the spot contract has been stagnant during the downtrend, and the declining inventories have played a supporting role for aluminum prices. The aluminum price may be taken care of by the receiving tray in advance due to inventory factors, and the termination of the aluminum bill Exploration process. Shanghai aluminum has been reluctant on the 15th, aluminum prices fell below 16600 and is already close to the lower part of the range, and there is no intraday sell-off, establishing confidence in the low buying market and maintaining stocks on the exchange. Expectations of a downward trend last week have contributed to the aluminum price. The spot price of the South China Sea has remained at a high level this week, with 15 days at 16950-17050 yuan, and the local spot situation will be maintained. Aluminum's fall is more limited, establishing a range trading strategy of 16500-17,000. Nanhua Futures analyst Wang Xin believes that LME aluminum continued to fall on the 14th, and aluminum continued to decline after being blocked at 1,900 U.S. dollars. After starting to stabilize at 1850, prices rebounded and ended with a large negative. Shanghai Aluminum closed with a small candlestick on the 15th, due to the limited amount of speculative funds on the market, and the volatility of the market was much smaller than that of the London market. Trading volume was reduced and positions were slightly increased. Shanghai aluminum main contract 0506 fell below the previous consolidation range, the market outlook still has some room to fall.
