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Dragged down by the overseas stock market crash, overnight Lun aluminum opened low at 2201.
5 US dollars / ton, after the opening aluminum price around the daily moving average weak shock, the trend is relatively light, the afternoon low once touched 2181.
5 US dollars / ton, down test 40 day line support, into the European trading session, the metal obtained technical repair, recorded a different degree of rebound, Lun aluminum once rebounded to 2202 US dollars / ton, but failed to effectively stand 2200 US dollars / ton integer mark, with the start of domestic night trading, with the active participation of anti-arbitrage funds, Lun aluminum opened a steady downward mode, touching a low of $2170 / ton, and closed at this point
.
It is expected that today's Lun aluminum may try to recover the 40-day line, but the probability cannot be effectively established, and the intraday operating range is 2150~2185 US dollars / ton
.
In terms of the market, on the day, the spot price of Lun aluminum was 2202 US dollars / ton, which was 0.
25 US dollars / ton discount from the March contract; The actual ratio of Shanghai aluminum spot to London aluminum spot was 6.
46 (import ratio was 7.
77), and the import loss was 2862 yuan / ton; The actual ratio of the Shanghai aluminum 3 contract to the London aluminum contract in March was 6.
56 (the import ratio was 7.
77), and the import loss was 2644 yuan / ton
.
The sharp decline in U.
S.
stocks weighed on the base metals market, which was green across the board
.
Overwhelmed by the double downward pressure from the stock market and China, Lun Aluminum fell through the $2,200 support level, although the bulls had a counterattack but limited
strength.
The big correction in U.
S.
stocks has dealt a certain blow to investor confidence, and it is expected that short-term aluminum will maintain a weak shock pattern under multiple pressures, focusing on the support
of the 40-day moving average below.
