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Overnight, Lun aluminum opened at 2275 US dollars / ton, and after the opening long tried to repair the previous day's decline, the high touched 2280 US dollars / ton
.
After entering the Asian session, Lun Aluminum followed the Shanghai aluminum shock decline, after entering the European session, the external strength and internal weakness continued to appear, Lun Aluminum once again tried to repair the intraday decline, the shock upward
.
In the evening, after the opening of Shanghai aluminum, Lun aluminum began to probe with Shanghai aluminum, touching 2252 US dollars / ton at a low level, and closing at the end of the session after Lun aluminum tried to repair the intraday decline and return to near
the 20-day moving average.
In overnight trading, with the domestic Shanghai aluminum narrow range shock no sign of rebound, Lun aluminum fluctuated sharply, closing at 2252.
5 US dollars / ton at the end of the session, located below
all daily moving averages.
It is reported that Trump has approved tariffs on $50 billion of Chinese goods, and the European Union and other countries have made it clear that they will immediately take countermeasures against the United States
.
A number of China's economic data fell slightly in May, but real estate data performed well
.
The intensification of the trade war, coupled with the slowdown in China's economy, may trigger market pessimism, which is negative
for commodity prices.
Under the influence of negative market sentiment, coupled with off-season expectations and cost declines, aluminum prices may temporarily suffer setbacks
.
Operationally, it is recommended to wait and see for
the time being.
However, it is worth noting that with the release of the European Central Bank's interest rate decision, the US index rose sharply, non-ferrous metals were under pressure as a whole, and the rebound of London aluminum was very limited, and it is expected to run 2240~2270 US dollars / ton
within the day.
