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Today's Shanghai aluminum main high consolidation, the current price below 11800 yuan / ton, 12000 yuan / ton around the resistance is large, pay attention to the support
of 11500 yuan / ton line.
Overall, the performance is far more resistant to the decline of Lunaluminum
.
Externally: Asia Lun aluminum fell under pressure for the third consecutive day, as the short-term pressure of its technical pullback increased, of which Shanghai aluminum closed with Lun aluminum falling 0.
36% to 1506 US dollars / ton, the current Lun aluminum from this round of rebound high of 1548 US dollars / ton fell nearly 3%, the lower support focus on 1480 US dollars / ton
.
Macro: The minutes of the Fed's March meeting showed that Fed officials were cautious about raising interest rates, and the Asian dollar index continued to fall under pressure to around
94.
3.
However, the weak dollar still failed to effectively boost the trend of non-ferrous metals as the market worried about increased supply pressure in the copper market
.
Watch for the ECB's
March monetary policy meeting tonight.
In terms of market: holders in East China sell at a bullish price under a bullish mentality; The middleman believes that the aluminum period is in a corrective sorting, the willingness to replenish is more positive than yesterday, the downstream enterprises purchase on demand, receive goods stably, and the market transaction has steadily improved
.
Holders in South China actively shipped, but due to the recent cheaper processing fees for aluminum rods, downstream companies tend to purchase aluminum rods for processing, aluminum ingot consumption weakened, and the overall market transaction was cooler than yesterday
.
In terms of industries, the U.
S.
International Trade Commission said on Wednesday that it has launched an investigation
into the U.
S.
aluminum industry and global aluminum trade.
The investigation will address the impact of Century Aluminum's ongoing operations on domestic smelters and is expected to be reported
by June 24, 2017.
Today's Shanghai aluminum 606 contract was weakly sorted out to 11780 yuan / ton, indicating that after the short-term aluminum price continued to rise, the bulls were more willing to profit from the high, and continued to pay attention to their technical pullback demand
in the short term.
In operation, it is recommended that the Shanghai aluminum 1606 contract can be sold high and low between 11700-11900 yuan / ton, and the stop loss is 100 yuan / ton
each.
