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Overnight Lun aluminum opened at 2212 US dollars / ton, Asian market noon Lun aluminum trend light, hanging at the daily moving average, in the afternoon by the rapid rise of the US dollar pressure, Lun aluminum quickly probed, into the European trading session Lun aluminum accelerated the down, the low once touched 2188.
5 US dollars / ton, but as the dollar high fell, Lun aluminum then rebounded back above the 20-day line, out of the deep V recorded a longer lower shadow, as the dollar continued to weaken, Lun aluminum opened a shock upward mode, touched 2235 US dollars / ton at night, closed at 2232 US dollars / ton , Lun aluminum above the 5/10 daily moving average tends to adhere to form a certain resistance, is expected to be there or repeated, today Lun aluminum is expected to run at 2210 ~ 2240 US dollars / ton line
.
In terms of the market, on the day, the spot price of Lun aluminum was 2228 US dollars / ton, which was 0.
5 US dollars / ton discount from the March contract; The actual ratio of Shanghai aluminum spot to London aluminum spot was 6.
37 (import ratio was 7.
76), and the import loss was 3093 yuan / ton; The actual ratio of the Shanghai aluminum contract to the London aluminum contract in March was 6.
53 (the import ratio was 7.
76), and the import loss was 2752 yuan / ton
.
Lun aluminum was volatile lower on Friday night, but the support of the 20-day moving average remained strong
.
Although affected by the domestic Shanghai aluminum, the upward movement of Lun aluminum is slightly weak, but the support below the 20-day moving average is still relatively sufficient, but also reflects that Lun aluminum still retains the momentum of the rise, as the winter gradually goes away, it is expected that foreign aluminum demand will gradually recover, we believe that there is still some upside space
in the medium and long term of Lun aluminum.