Shanghai aluminum remained high and volatile prices rose sharply during the week

In terms of external trading, LME March aluminum continued to rise this week, the price fluctuated higher throughout the week, and the price rose sharply to $1948 on Thursday due to the opening of the Ministry of Industry and Information Technology, and closed at $1945 on Friday, up $22, or 1.
14%
for the week.

In terms of the market, this week continues to be affected by off-season factors, the overall trading situation is general, and the downstream on-demand receiving is the mainstay
.
On Friday, holders continued to actively ship, as next week will enter the delivery cycle, middlemen believe that the discount will narrow, the willingness to receive has increased, downstream near the weekend a small amount of stocking, the overall transaction continued to pick up
.

In terms of news, at the beginning of the week, smelters in Xinjiang closed part of their production capacity, triggering market expectations for supply-side policies, and since then, aluminum prices have remained strong in non-ferrous metal adjustments, but the current market is worried about the supply of major producing countries China, and the aluminum market may face greater pressure
in the short term.

Technically, the weekly K Shanghai aluminum index continues to stabilize above the 20-week moving average, the lower support is more effective, the KDJ gold cross is up, the MACD dead cross but the red column narrows
.
On the daily K, the MACD golden cross but insufficient upward momentum, the KDJ golden cross is passivated at a high level, the pressure at 14300 yuan is large, and the short-term or above the 5-day moving average is strong
.