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Last Friday, the market was closed and opened
flat today.
Shanghai aluminum fell slightly on Friday, rising slightly in overnight trading back to near
Thursday's closing price.
Shanghai aluminum has recently fluctuated slightly to the downside, but the trading position continues to rise, and the recent spot price has formed a strong support
for the market.
The external trend is too bad, and the Shanghai aluminum technical pattern began to weaken, and the short-term high momentum is insufficient, which may fluctuate
in the current position.
Since the price of Shanghai aluminum is significantly higher than that of London aluminum, we should be wary of the risk of
pullback in the medium term.
Shanghai aluminum upper pressure 60-day moving average 12700, lower support 12000
.
U.
S.
nonfarm payrolls fell by 20.
5 million after the April quarterly adjustment, compared with an expected decrease of 22 million, compared with a decrease of 700,000
in the previous month.
The unemployment rate was 14.
7% in April versus 16% expected and 4.
4%
in the previous month.
New global diagnoses continued to be near highs over the weekend, with large increases
in South America and Russia, particularly in South America.
The US non-farm payrolls data slightly exceeded expectations, the market expects the US to continue to introduce more stimulus policies, the dollar fell on Friday, and non-ferrous metals continued to strengthen.
The domestic epidemic has been basically controlled, the policy release is more favorable, and the macro atmosphere has warmed
.
Alumina's performance has bottomed out, because the current domestic alumina operating capacity has improved compared with the previous reduction of raw material demand for electrolytic aluminum plants, and it is expected to maintain a slight upward trend
in the short term.
