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Overnight, the main force of Shanghai aluminum opened at 14065 yuan / ton, at the beginning of the session, taking advantage of the rising trend of aluminum, quickly rushing 14120 yuan / ton, meeting the 20/40/60 daily moving average resistance, long and short overall performance is cautious, the aluminum fell back around 14050 yuan / ton oscillation, low down touched 14010 yuan / ton, closed at 14045 yuan / ton
.
20/40/60 daily moving average formed a strong resistance, policy interval, Shanghai aluminum main force may be difficult to form an effective breakthrough, long and short cautious waiting, Shanghai aluminum narrow range oscillation, expected to run 13980 ~ 14120 yuan / ton
within the day.
Downstream consumption weakened, the period was strong and weak, the spot discount was further expanded, and the spot discount was 140~100 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 13870 yuan / ton, the same as the previous day, compared with the discount of 115 yuan / ton for the near-month contract, Shanghai aluminum fluctuated widely, the cargo attitude of the holder was positive, the spot discount continued to expand, traders still chose to wait, downstream enterprises only purchased according to just demand, and the overall transaction was still high price
.
Today, China will hold a press conference
on the macroeconomic situation.
The official website of the World Bureau of Metal Statistics (WBMS) released a report on Wednesday showing that the global primary aluminum market was short of 356,000 tons from January to March 2017 and 1.
12 million tons
in 2016.
Shanghai aluminum broke through the 20-day moving average overnight and once rushed to around 14100, the market is poor, short-term Shanghai aluminum may continue to fluctuate
.
Upper pressure 20-day MA 14100, lower support 60-day MA 13970
.
