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Overnight, Lun aluminum opened at $1960 / ton in the morning, high above the 20-day moving average
.
During the Asian session, Lun aluminum maintained a narrow range, touching the 40-day moving average of 1977 US dollars / ton at a high level, and as of 15:00 Lun aluminum was reported at 1974 US dollars / ton
.
After entering the European session, the volatility of London aluminum intensified, due to the weakening of the US index, Lun aluminum rushed to touch the height of 1996 US dollars / ton, piercing the 40-day moving average
.
After a rapid shock fall, Lun aluminum closed at 1974 US dollars / ton, closing below
the 40 moving average.
After the G20 summit, the Sino-US trade war eased and bears concentrated on leaving the market to avoid safety
.
The fundamentals have not reversed, and the intraday Chinese and US indexes weakened, and there is still greater pressure
on aluminum prices.
It is expected that today's Lun aluminum operating range is 1950~1980 US dollars / ton
.
The phased easing of the Sino-US trade war will greatly boost the short-term market
.
From the perspective of the supply and demand of electrolytic aluminum itself, the price of alumina and pre-baked anode weakened, and Shanghai aluminum further declined
.
At present, the industry is in a stage of large losses, but demand has weakened, and up to more than 1.
3 million tons of inventory and a large number of production capacity to be put into operation can still ensure normal supply, if there are no other benefits, it is difficult to see an effective rebound
in aluminum prices.
