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Overnight Lun aluminum opened at 2131 US dollars / ton, the Asian session Lun aluminum performance is better, the center of gravity steadily moved up to touch 2153 US dollars / ton, from the end of the Asian market, the metal showed signs of weakness, into the European trading session, the US index up, base metals generally fell, Lun aluminum leaked down 2118 US dollars / ton, Trump will impose tariffs on imported aluminum, Lun aluminum rebounded strongly, the high recorded 2164.
5 US dollars / ton, after touching the high Lun aluminum fell back to close at 2148 US dollars / ton
.
The trading volume increased by 3566 lots to 20337 lots, and the position decreased by 6618 lots to 676865 lots
.
US President Trump announced that he will impose a 10% tariff on imported aluminum, and the details of possible tariffs will be announced next week, driving the optimism of Lun Aluminum, testing the 5-day moving average, and it is expected to run 2135~2160 US dollars / ton
in the day.
In terms of the market, on the day, the spot price of London aluminum was 2159 US dollars / ton, a premium of 21.
5 US dollars / ton compared with the March contract; The actual ratio of Shanghai aluminum spot to London aluminum spot was 6.
51 (import ratio was 7.
85), and the import loss was 2909 yuan / ton; The actual ratio of the Shanghai aluminum contract to the London aluminum March contract was 6.
77 (the import ratio was 7.
85), and the import loss was 2330 yuan / ton
.
The performance of Lun aluminum still shows weakness on the upside
.
The overnight break of $2150 was clearly blocked
.
The current market performance is still cautious, in the case of the slow rise of LME inventory, the market is not confident in the rise of the aluminum market, in March need to pay attention to the recovery of demand after the climate warming, if the recovery is satisfactory, London aluminum may have the possibility
of upward challenge of $2200.
