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On Wednesday, most of the non-ferrous metals in the domestic futures market rebounded, and Shanghai aluminum performed steadily, and rose again after a slight consolidation
.
Aluminum price material sideways, slightly strong, for reference
only.
At the macro level, although the central bank's reduction of 1-year and 5-year loan interest rates has promoted the recovery of market trading sentiment, the Sino-US trade negotiations are still variable, and the economic data on domestic consumption and investment are less than expected, and the macro still tends to be cautious
.
As of Friday, East China spot aluminum reported 14020-14060, the market transaction is general, next week is expected to slow down, East China spot aluminum concern 13900-14100 range volatility, those who have goods wait and see, those who have no goods buy
on demand.
On the supply side, the production progress was not as expected, and the production release in the fourth quarter was limited
.
And aluminum ingot inventories fell sharply this week, and the high premium of spot combined with the decline in inventory can support short-term aluminum prices
.
Shanghai aluminum maintained a slight rebound in the market, and the futures price has held firm support near the 60-day line, and the long order is renewed
.
Next, pay attention to whether funds can intervene after the adjustment to get out of a wave of accelerated
upward movement.
