Jinniu Futures Yang Haili and Lun aluminum significantly increased compared to the Shanghai aluminum price performance has been tepid, under the influence of cost support and hedging pressure under the dual factors to maintain the slow cow pattern. On Monday, the main contract AL0405 opened at 16,590 yuan and closed at 16,580 yuan, up 70 yuan. The open interest and trading volume were slightly larger than the previous trading day. The sharp increase in London Aluminum once again will have a more positive effect on Shanghai Aluminum than in the previous period. At the same time, alumina prices have risen last week, and domestic electricity prices are expected to increase. Technically, the Shanghai-Aluminum weekly and daily KD indicators have started to diverge upwards, and Shanghai Aluminum is expected to follow Lumco's strength in the short-term. From a fundamental point of view, due to the cancellation of the export tax rebate rate, the difference between the domestic and foreign primary aluminum prices fell and then fell. With the current price ratio, the domestic electrolytic aluminum processing companies can already maintain their operations, or even have a slight surplus. Domestic aluminum prices form support. Since imported alumina is exempted from import duties of 8% under the import processing mode, it is only levied a 5% export duty on the value-added portion of the alumina. Therefore, in the export of primary aluminum, the feed processing method has always been more advantageous than the general trade method. According to the current freight rates and port premiums, domestic and international prices should be maintained at about 8.5 under the processing of imported materials. At the close of trading on Monday, the domestic and foreign exchange rate was 8.46, which was basically at a reasonable level, which was helpful to the market. On the secondary market, if the London aluminum market continues to rise, Shanghai aluminum prices will break the board and the gains will accelerate. However, due to the decline in China's industrial product prices in January, the trend of Lonbron shocked, the direction is unknown, and domestic electrolytic aluminum production capacity is still huge, late Shanghai aluminum prices rose will also be pulsed, investors can buy on dips, rolling operation .
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