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Overnight, the main contract of Shanghai aluminum opened at 14960 yuan / ton, after the opening of the bears actively tried to enter the market significantly increased, the low price of aluminum touched 14825 yuan / ton, but the bulls also strong protective force, then Shanghai aluminum repair part of the decline closed at 14895 yuan / ton, Shanghai aluminum index position increased 2234 hands to 826142 lots
.
There is a small gap of 14650 yuan below the Shanghai aluminum line, if the momentum of aluminum rise weakened, the bears or will wait for the opportunity to sell short pressure, the next support level is in the 10-day moving average, it is expected to run at 14725 ~ 14925 yuan / ton
today.
In terms of news, the US Treasury Secretary said on Saturday that he would go to China for negotiations and was cautiously optimistic that the two countries would reach an agreement to solve trade issues, easing some of the worries of the trade war; A number of Fed officials expressed support for the current gradual interest rate hike policy, and the dollar index was boosted by four consecutive trading days
last week.
The strengthening of the US dollar has inhibited the upside of metals, and Shanghai aluminum is under pressure to consolidate, and spot aluminum is expected to follow today
.
The market gradually digested the worries caused by the sanctions on RUSAL and gradually returned to rationality
.
And recently Rusal is actively negotiating with China to find a sales channel, will increase the pressure on China's aluminum supply, so Shanghai aluminum is relatively under pressure, the repair of the ratio faces resistance, but some of the market believes that China will increase exports to make up for the overseas gap, so the current impact of Rusal sanctions on the domestic is still uncertain, it is expected that Shanghai aluminum short-term volatility-based, it is recommended that Shanghai aluminum new orders wait and see
.
