Shanghai aluminum continued to fluctuate in a narrow range at a high level, and the short-term upward momentum declined slightly

In terms of external trading, Asian Lun aluminum further rebounded, of which Shanghai aluminum closed Lun aluminum rose 0.
5% to 1594 US dollars / ton, close to the high set on March 7 this year, currently effectively stabilized above the moving average group, showing its strong willingness to rise, but the short-term RSI indicator began to send overbought signals, need to be wary of technical pullback demand, the lower pullback support focus on 1550 US dollars / ton
.

Macro: The Asian market dollar index is weak and oscillating, now trading around 94, while U.
S.
crude oil futures are under pressure to decline, but the internal commodity market is still strong long, especially ferrous metals and chemical varieties reappear up and down, optimism is transmitted to the non-ferrous metals market
.
Today's market lacks focus or continues to be driven by market sentiment
.

Market: April 20 aluminum before the afternoon high of the month to finish
.
Shanghai transaction concentrated 12070-12080 yuan / ton, the period of aluminum flat water in the month
.
Holders are actively willing to sell at high prices, middlemen are difficult to find a source of discounted goods, the willingness to receive goods has turned cold, the downstream fear of high receiving goods is suppressed, and the supply and demand ends have
reappeared.

In terms of industry, the Brazilian Aluminum Association said the country's primary aluminum production in March fell 9.
4% year-on-year to 65,400 tons
.
Since March 2014, Brazil's primary aluminum production has continued to decline due to falling aluminum prices and high production costs, and has not rebounded
so far.

Today's Shanghai aluminum 606 contract oscillation closed up to 12075 yuan / ton, but in the past week or so, Shanghai aluminum has shown signs of weak rise at a high level, the performance is stagging in Lun aluminum, short-term need to be wary of technical pullback demand
.
However, benefiting from the decline in aluminum inventories in the previous period for many weeks, its correction space may be limited
.
It is recommended that the Shanghai aluminum 1606 contract can sell high and low between 12150-11950 yuan / ton, and the stop loss is 100 yuan / ton
each.