Shanghai aluminum went all the way down, directly below the daily moving average

In terms of the external market, Lun aluminum opened at 1782 US dollars / ton in the morning, because the US dollar index fell more than 600 points overnight to fall to the 97 mark, Lun aluminum borrowed the power to float up to 1788 US dollars / ton, but the upper pressure is large, Lun aluminum is difficult to continue to break through, then close to the daily average slipped to around 1782 US dollars / ton, the end of the Asian session was unable to support, fell sharply to around 1777 US dollars / ton, after the start of the European trading session, Lun aluminum fell hard to continue to explore, all the way down to the lowest level of the day 1766.
5 US dollars / ton, Although it then tried to recover, but climbed to 1776 US dollars / ton after being hindered by the 60-day moving average difficult to rise, in the case of the metal floating green, Lun aluminum turned to continue to fall, as of 18:30, Lun aluminum closed at 1771 US dollars / ton, down 11 US dollars / ton, down 0.
59%.

Considering that the previous macro news was not digested, and the metals were weak, and the trend of London aluminum itself was weak, it is expected to continue to fluctuate
weakly below $1800 / ton.

In terms of the market, aluminum futures maintained range-bound volatility at the opening of the month
.
The spot trading price in Shanghai was between 13860-13880 yuan / ton, and the flat water of the current month rose to 10 yuan / ton, down from yesterday's price by about
30 yuan / ton.
The spot trading price in Wuxi is between 13870-13890 yuan / ton, and the spot price in Hangzhou is concentrated at 13900-13920 yuan / ton
.
Traders and intermediaries traded actively, there were more shipments, and traders who replenished goods on the dip also increased significantly, as prices fell from the previous day, and near the weekend, there was a demand for stocking downstream, and the volume of goods received increased significantly compared with previous days
.
On the whole, East China traded well
.
In the late afternoon, aluminum shock downward, the decline is faster, the early stage did not fall, a small number of market transaction prices around 13870 yuan / ton, opposite the plate premium around 10 yuan / ton, in the period aluminum rapid discharge stabilized, the market quotation began to concentrate between 13830-13850 yuan / ton, the opposite plate premium 10-30 yuan / ton, but at this time market traders began to wait and see, the actual transaction is almost nothing
.

The day closed at the long black line, giving up all the gains in the previous three days, it can be seen that the market has basically digested the macro good news of the previous two days, the focus returns to the fundamentals, in the context of the downward pressure on the cost side of alumina prices, bears take advantage of the trend to suppress aluminum prices, considering that short-term bearish factors are difficult to change, it is expected to continue to run below the 10,000 four mark in the evening, continue to pay attention to the changes in long and short positions and market trading atmosphere
.