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Today's Shanghai aluminum 1606 contract fluctuated in a narrow range around 11650 yuan / ton, closing at 11640 yuan / ton at the end of the day, down 1.
02% from yesterday's closing price, basically maintaining the overnight decline, but its performance is obviously resistant to falling to other non-ferrous metals
.
In terms of the external market, Asian aluminum stopped falling and maintained stability, of which Shanghai aluminum closed with Lun aluminum rising 0.
63% to 1507.
5 US dollars / ton, but has not effectively broken through the upper moving average suppression, and the RSI indicator did not send an oversold signal, short-term aluminum price decline risk remains, the lower support focuses on this round of pullback low of 1475 US dollars / ton
.
Macro: The Asian dollar index continued to fall under pressure and is now trading around 94.
4, as a number of Fed officials made dovish speeches this week, which reduced their June interest rate hike expectations, while U.
S.
crude oil futures oscillated stronger, rising more than 3%, improving market confidence
to some extent.
Market: On April 8, Shanghai aluminum trading concentrated 11680-11690 yuan / ton, which was flat water
in the month.
Shanghai holders increased shipments, middlemen received goods cautiously, the overall transaction in Shanghai was poor, Wuxi holders shipped steadily, downstream weekend stocking was positive, the overall transaction showed Friday characteristics, after yesterday's short impact of warehouse receipts, Hangzhou prices returned to the highest state in East China, and the transaction was relatively stable
.
Transactions in East China diverged
.
Today's Shanghai aluminum 606 contract was weakly sorted out to 11635 yuan / ton, indicating that after the short-term aluminum price continued to rise, the bulls were more willing to profit from the high, and continued to pay attention to their technical pullback demand
in the short term.
However, due to the extension of the mining ban in Malaysia, the short-term may partially offset concerns about the resumption of aluminum production and the pressure of technical pullback
.
It is recommended that the Shanghai-aluminum 1606 contract can sell high and low between 11600-11900 yuan / ton, and the stop loss is 100 yuan / ton
each.
