Shanghai aluminum fell under pressure, but it has not yet fallen below the shock finishing platform

External: Aluminum around 1925 US dollars / ton narrow fluctuations, the operating range is 1930-1919 US dollars / ton, of which 3 months Lun aluminum slightly fell 0.
39% to 1920 US dollars / ton, the fluctuation is gentler than Shanghai aluminum, the current Lun aluminum is still stable above the moving average group, its upper rebound resistance focuses on 1950 US dollars / ton
.

Macro: The US dollar index oscillated and rebounded in early trading, now trading around 99.
9, still running below the main moving average group, and the short-term downside risk is greater
.
In addition, the main force of U.
S.
crude oil futures fell under pressure this week, falling 1.
7%, weighing on market sentiment
.
Aluminum industry information, bauxite imports in February 4258174 tons, an increase of 34.
42% year-on-year, of which bauxite imports from Guinea were 1335567 tons, a sharp increase of 313.
62%
year-on-year.

In terms of market: on March 24, Shanghai trading concentrated 13510-13520 yuan / ton, the discount for the month was 150-140 yuan / ton, Wuxi transaction concentration was 13500-13510 yuan / ton, Hangzhou transaction concentration was 13530-13550 yuan / ton
.
The spot discount remains unchanged, the holder ships stably, the recent spot price fluctuates in a narrow range of 13500-13600 yuan / ton, downstream enterprises purchase steadily on demand, middlemen maintain the downstream receiving strategy, and the overall transaction maintains stability
.

The Shanghai aluminum 1705 contract fell under pressure to 13,695 yuan / ton, far weaker than other base metals, as Guinean bauxite imports continued to climb
in February.
However, in view of the fact that Shanghai aluminum is still stable above M60, the short-term Shanghai aluminum 1705 contract can maintain a long idea, can be backed by 13550 yuan above the dip, the entry reference around 13650 yuan, the target of 13900 yuan / ton
.