SMM News: Shanghai Aluminum main overnight shock rose to 13885 yuan, closed at 13875 yuan, an increase of 0.58% LME aluminum three-month contract after the close of the Asian market rose sharply from the low to the high point of $1780.5, an increase of 1.11%.
Overnight market sentiment was boosted by the exchange of phone calls between the heads of state of China and the United States, and non-ferrous metals rebounded collectively, but the rebound in Shanghai Aluminum was not strong. On the domestic side, the aluminum market maintained to go to the warehouse, but the decline narrowed, and the aluminum bar inventory began to accumulate again. After the market entered the off-season, the output of the stock for many weeks was weaker than in previous years. The current alumina price must be loose and a certain drag on the cost of aluminum price. At the same time, the production of electrolytic aluminum production line in the later period will deepen the pressure on the supply of aluminum market.