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On Wednesday, base metals were mixed, with bearish sentiment slipping
.
Among them, the Shanghai aluminum shock weakened, trading at 14660-14530 yuan / ton in the day, and closing at 14540 yuan / ton at the end, down 0.
55%
on the day.
In the external market, as of 15:41 Beijing time, the three-month Lun aluminum was reported at 2072 US dollars / ton, up 0.
36% on the day, and the upper rebound resistance focused on 2100 US dollars / ton
.
In terms of spot, Shanghai trading concentrated 14520-14530 yuan / ton, the discount for the month was 40-30 yuan / ton, Wuxi transaction concentrated 14520-14530 yuan / ton, Hangzhou transaction concentrated 14540-14550 yuan / ton
.
The sufficient supply of market circulation is changed, there is a demand for pre-holiday stocking downstream, the enthusiasm for bargain hunting has increased, and the overall transaction has rebounded compared with yesterday, but the situation of oversupply has not changed
.
In terms of news, the Asian market dollar index continued to fluctuate, now trading around 94.
116, the market is generally concerned about the Fed's interest rate hike decision at 02:00 Beijing time on Thursday (September 27), it is expected that the probability of interest rate hike is higher, or the dollar index will fluctuate steadily
.
On the industry front, the union for Alcoa's Western Australian aluminium project said it would meet with management on Wednesday to try to find a solution to the strike that lasted more than six weeks
.
During the day, Shanghai aluminum showed a weakening of volatility, and compared with the performance of other non-ferrous metals, the trend of Shanghai aluminum was relatively weak
.
On the technical side, the futures price continued to be weak, falling below the 60-day moving average, the RSI indicator value crossed the middle line, and continued to show a downward movement, short-term Shanghai aluminum or still in a weak
position.
Operationally, it is recommended that the Shanghai-aluminum 1811 contract can be shorted around 14600, with a stop loss reference of 14700 and a target focus on 14400
.
