Shanghai aluminum weak rebound short-term or shock operation

Externally, the LME aluminum March contract opened slightly higher to $2101.
5 today, and then the price was under pressure at a high level, falling back to around $2089 before the close, and the Asian market closed in a narrow range, closing at $2091, up $1.
5, or 0.
07%.

In terms of the market, the trading level of the mainstream trading hours of the spot market is weak, the price volatility in the morning is weak, coupled with the Yangtze River quotation is higher than the market expectation, the holders have lowered the price to dump goods, the downstream demand is weak on Monday, the market transaction is not good, after the delivery date, the spot discount to futures narrowed C190-C150 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, but in the short term inventory is still repeated, SMM 18 statistics of inventory increased again by 2,000 tons compared with last week, inventory continued to rise caused market concerns, spot aluminum rally setback, aluminum market is difficult to effectively break through the previous high in the near future, it is expected that short-term Shanghai aluminum will remain above 16,000 yuan oscillation
.

On the technical side, the main KDJ dead 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 shock operation, and the overall is easy to rise and fall
.