Long entry drove Shanghai aluminum higher, and aluminum may follow today

U.
S.
new home sales unexpectedly fell in January, and the weakening of the dollar index overnight supported the rise in aluminum prices, with London aluminum closing up $24 to $1571, up 1.
55%; Today's Shanghai aluminum opened low, the current month 1603 contract opened at 11070 yuan, down 30 yuan, 9:20 Shanghai aluminum 1603 contract latest price was 11230 yuan, up 130 yuan; Bulls entered, and it is expected that Shanghai aluminum will show a strong shock pattern
today.

The latest inventory of London Metal Exchange (LME) on the 24th was 2783775 metric tons, down 5375 metric tons from the previous trading day's inventory, and the latest inventory of aluminum alloy was 15600 metric tons, unchanged
from the inventory of a trading day.

Yesterday's domestic spot aluminum prices were generally stable, AOO aluminum ingots reported 10970-11010 yuan / ton, the average price was 10990 yuan / ton, flat, and the AOO aluminum ingot price in East China of Chalco was reported at 11120 yuan / ton, down 40 yuan / ton; Recently Shanghai aluminum performance is strong, spot prices may be driven, spot aluminum is expected to rise
today.

On February 24, the Bureau of Statistics released market price statistics of 50 important production materials in 9 categories in mid-February, and the data showed that the price of aluminum ingots in mid-February was 10,771.
6 yuan / ton, up 221.
6 yuan from early February and 2.
1%
month-on-month.
Among other non-ferrous metals, copper rose 0.
5%; Zinc up 3.
8%; Lead rose 0.
5 percent
.