Brief review of the aluminum market on November 7

On Wednesday, the Shanghai aluminum main 1912 contract opened at 13940 yuan / ton in the morning, and the first trading session floated low 13925 yuan / ton, hovering slightly at the low level after the short flat and more in, helping the aluminum price climb all the way along the 5-day moving average from the low to the intraday high of 13985 yuan / ton, refreshing the high level since nearly January, but the pressure above the Wansi mark is greater, the main link then softened at the high, and the bulls reduced their positions by more than 1,000 hands at the end of the day, and finally closed at 13955 yuan / ton, up or down of 0%.

Shanghai aluminum narrow range shock, the main 1912 contract closed flat to 13955 at the end of the day, from the plate point of view, there is still a certain pressure above the Lun aluminum 1800 mark, the expected increase is limited, and Shanghai aluminum lack of favorable boost, is expected to rise is also limited, continue to pay attention to the pressure level of the 14,000 mark, short-term aluminum prices into a narrow range shock pattern, the overall rise and fall space is not large, the medium-term trend is weak, operationally, wait and see; it is expected that tomorrow's spot aluminum prices will not fluctuate much
.

Intraday aluminum prices briefly touched the 10,000 mark, but high bulls lack confidence, aluminum prices have retreated, continue to pay attention to the change of long and short positions, it is expected to continue to have limited upside
.