March 7 Shanghai Aluminum Review

In the London base metals trade on Friday, the US Department of Labor announced that the non-agricultural employment population in February increased by 262,000, a better-than-expected increase of 220,000, and in January it was revised to an increase of 132,000. February's commodity production, construction and manufacturing industries all created new jobs, suggesting a steady and steady increase in demand for industrial metals. In addition, aluminum inventories fell by 3,275 tons, which provided support for aluminum. Its spot price increased for three months to 38/40, which is higher since November last year. Aluminium prices once soared 1970, and finally closed at 1955. Affected by this, most domestic Shanghai aluminum contracts opened higher and higher, but there was a lack of follow-up buying near the post-holiday high point, which maintained a volatile trend throughout the day. The intraday forward contract was relatively strong. The volume and position of the stocks were moderately enlarged at the same time, showing that the 505 contract has a large gap between 16660 and 16600. At 10:00 am on Monday, the Third Session of the Tenth National People's Congress held a Chinese and foreign press conference at the press conference room on the first floor of the Great Hall of the People. Ma Kai, Director of the National Development and Reform Commission, Zhou Xiaochuan, Governor of the People's Bank of China, and Chairman of the China Banking Regulatory Commission Liu Mingkang and Deputy Minister of Land and Resources Li Yuan answered a reporter’s question on economic and social development and macro-control. Regarding macro-control, it is one of the hot spots of the two sessions this year. Reflected in the futures market, the cautious trend in the metal trading on Monday is evident. In the period of fierce divergence, policy factors often have a significant impact. During the two sessions, metal futures are likely to cautiously follow London's volatility. SEOUL, March 5 (Reuters) - The South Korean government said on Saturday that it will abolish some import taxes on iron ore and copper. Officials in the Prime Minister’s office stated that the 1% allocation tax on iron ore, scrap iron ore and copper concentrates will be cancelled in the first half of this year, but no specific date has been given. Prime Minister Minister Lee Hae-chan cited a statement after a department meeting held on Saturday, saying that “the prices of raw materials have shown signs of soaring at the beginning of this year, which will hinder the recent economic recovery.” Monday's 505 contract opened higher on Monday. After the high point of the festival, the high point of resistance fell, indicating that the 16660 short-term or constitute a resistance, the breakthrough of the 16660 remains to be further upside London aluminum. Jingyi Futures: Takano

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