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Shanghai aluminum afternoon comment on April 11

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Overnight, the Shanghai aluminum main 1905 contract opened at 13840 yuan / ton, the opening shock climbed, the high stopped at 13865 yuan / ton, two probes of 13860 yuan / ton, because the three upward movements in the evening were blocked at 13870 yuan / ton line, Shanghai aluminum support weak to turn down, near the end of the fall of all the moving averages, all the way low to the low of 13810 yuan / ton when stopping, and finally closed at 13810 yuan / ton
.

Shanghai aluminum

Due to the relatively flat news overnight, if there is no impact of breaking news, it is expected to run between 13800-13900 yuan / ton, and the monthly discount or concentrated in flat water - 20 yuan / ton, pay attention to today's release of China's March PPI and CPI data
.

The overall macro recovery atmosphere supports the high operation of aluminum prices, but from the downstream performance, consumption has not improved significantly, and the speed of inventory dematerialization is general, and it is difficult to support a sharp rebound
in aluminum prices.
Under the expectation that the elasticity of the supply side is not large, the pressure to increase production and resume production is limited and the downstream consumption margin is improving, the aluminum price in the future market is easy to rise and fall
.
Operationally, keep the operation idea of pullback buying, and patiently wait for low long opportunities
.

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