Shanghai aluminum short-term or high volatility to maintain the rally

In the external market, the LME aluminum March contract opened volatile to $2128, and then the price fell back to a low of $2109 under pressure, and the Asian market rebounded slightly before the close, closing at $2110.
5, up $1.
5, or 0.
07%.

In terms of the market, the mainstream trading hours of the spot market are active, the morning aluminum maintained a high level of volatility after the rebound, the holders slightly adjusted the price of shipments, the market middlemen maintained their enthusiasm for receiving goods, the downstream also received goods slightly before the weekend, the intraday buying situation was stronger than the previous day, the trading level continued to remain active, near the delivery date, the spot pair of futures premium narrowed C110-C70 yuan / ton
.

In terms of news, China's primary aluminum production in August fell 3.
7% year-on-year to 2.
64 million tons, a new low since August 2016, supporting aluminum prices, but in the short term inventory is still repeated, SMM 14 statistics of inventory In addition, the market expects that the inventory inflection point will increase again by 01,000 tons compared with last week, and the black and chemical industries have fallen sharply during the day, and the aluminum market is difficult to effectively break through the previous high
in the near future.

It is expected that Shanghai aluminum will remain high in the short term
.
On the technical side, the main KDJ golden cross and MACD dead cross of Shanghai aluminum, the price closes long and the lower shadow shows that the support below is strong, short-term or high volatility to maintain the rally, the overall easy to rise and fall
.