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Lun aluminum opened at 2184 US dollars / ton, after the opening slightly fluctuated to touch 2188.
5 US dollars / ton, and then as the US index continued to strengthen into the downward rhythm, the Asian session ended the session at a low of 2180 US dollars / ton
.
After entering the European trading session, the US dollar rose strongly, the base metal fell under pressure, Lun aluminum continued to be weak, the night session updated the intraday low touched 2164 US dollars / ton, but then the US index continued to fall from the high, Lun aluminum touched a low rebound, the high recorded 2188.
5 US dollars / ton, closed at a high of 2176.
5 US dollars / ton
.
The 5-day moving average above Lun aluminum moved down, and the long and short positions within the day will compete around the 5-day moving average, and the material Lun aluminum oscillates, running 2170~2190 US dollars / ton
during the day.
In terms of news, Sino-US trade frictions continue to affect market sentiment, and the imposition of anti-dumping tariffs by the United States on Chinese alloy plates is not conducive to
Chinese exports.
Domestic consumption is gradually entering the off-season
.
However, due to the limited recovery of production, inventories continue to degrade, which has some support for prices, coupled with the implementation of the domestic RRR reduction, futures aluminum prices in the short term are suppressed
.
Since June, the international financial market has ushered in the superposition of multiple risk events, and non-ferrous metals as a risk asset short-term price pressure, from a longer-term perspective, the People's Bank of China's targeted RRR reduction shows the action of hedging macro risks, while in the context of China's in-depth promotion of a number of policy measures, tightening environmental protection and supply-side reform continues to adhere to the background, the price rebound of bulk industrial products has a basis, and the judgment of nonferrous prices to maintain the center of gravity is
upward.