Market stability signs are obvious, and aluminum prices have bottomed out

In the external market, the LME aluminum March contract opened high at $1868, then rushed back down, fell to $1864.
5, after which the price rebounded, rushed to $1871, but soon after under pressure and volatility lower, the price fell to $1864 in the afternoon, and then the price rebounded sharply, all the way up to $1878, under pressure before the close, the rise narrowed, closing at $1872.
5, down $6, or -0.
32%.

In terms of the market, the mainstream trading hours of the spot market trading hours are general, after delivery, the downstream near the weekend did not show the demand for stocking, are mainly on-demand procurement, the market trading situation is general, holders in the aluminum price after the sharp fall to sell, maintain a small amount of premium price shipment.

Prices continued to remain high in the afternoon
.

Affected by market sentiment and capital during the day, many varieties rebounded sharply, in addition, Beijing held the Belt and Road Summit, and the market stability showed obvious
signs.
However, the aluminum market dragged down the weak fundamentals and only rebounded
slightly.
Technically, Shanghai aluminum main KDJ golden cross, MACD dead cross and green column attenuation, continue to stand on the first half of the line, temporarily stabilized, short-term multiple downward tests show that the support below 13600 yuan is strong, it is expected that short-term aluminum prices are weak and volatile
.
It is expected that the current price spread will widen slightly at a discount, and the quotation may return to the level
of 13,700 yuan / ton.