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On Friday evening, Shanghai aluminum opened at 13770 yuan / ton, a large number of bears entered the market at the beginning of the session to put pressure, Shanghai aluminum volume fell to the low touched 13655 yuan / ton, low short countered, aluminum prices steadily recovered, but failed to break through the 5-day moving average resistance, closed at the highest point of 13845 yuan / ton, the position increased by 1504 hands to 200296 lots
.
Continue to pay attention to the resistance of the 5-day moving average of Shanghai aluminum, and it is expected that today's operating range is 13770~13920 yuan / ton, and the spot discount is 60~20 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 13720 yuan / ton, up 70 yuan / ton from the previous day, and the discount of 5 yuan / ton compared with the near-month contract.
In terms of news, China's manufacturing PMI fell month-on-month in May, and the US employment data for May was also less than expected, indicating that economic growth momentum will slow down and nonferrous demand will slow.
The impact of domestic financial regulation on risk appetite remains
.
The weakening of the US dollar has some support
for Shanghai aluminum.
Short-term Shanghai aluminum is weak, the upward momentum is insufficient, try to participate
in short orders.
