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Brief comment on the aluminum market: As of the close of 3 p.
m.
, the main 2207 contract of Shanghai aluminum closed down at 20605, down 265, or 1.
27%.
This week's aluminum prices showed a trend of first rising and then suppressing, as of Friday, spot prices returned to the level at the beginning of the week, throughout the recent market, aluminum prices upward curve is poor, is expected to face appropriate adjustment volatility in the near future, and considering that in the next two weeks the Federal Reserve and the British and Japanese central banks will announce the specific base of interest rate hikes, the market risk aversion is more serious, bearish sentiment spreads, short-term aluminum prices are under obvious pressure
.
From the perspective of the support point below the aluminum price, the short-term effective support for the price is still the market's high demand expectations for the future market and the low level of spot inventory, Shanghai aluminum below the focus on 20,000, next week's reference range 20200-21000, is expected or out of the first fall and then up trend; Operationally wait and see
.