The market is bearish and the upward trend of aluminum is difficult

In terms of the external market, overnight U.
S.
stocks are close to falling to the limit, the market is bearish sentiment, Lun aluminum opened in the morning and leaked, opened at 1575 US dollars / ton, but then even if the shock fell to a low of 1541.
5 US dollars / ton, after stabilizing began to test the upward, but the upper 40-day moving average resistance is strong, briefly touched 1552.
5 US dollars / ton and then fell again, the Asian market at the end of the day to test the lowest point of the day 1538.
5 US dollars / ton, after entering the European market London aluminum began a new wave of upward road, as of 16:30 Lun aluminum recovered some of the intraday decline, The high probed 1561.
5 US dollars / ton, closed at 1558 US dollars / ton, down 19 US dollars / ton, down 1.
2%, closed at a long lower shadow black line, recorded six consecutive negatives, the center of gravity is sinking from the previous day, located below all moving averages, still far from the upper 5-day moving average
.

Overnight macro atmosphere is empty, metal opening is green across the board, aluminum prices in the context of its own fundamentals have not significantly improved, intraday plunge, is expected to have limited upward momentum in the short term, pay attention to the recovery of consumption in the later period and the recent situation of aluminum plant maintenance
.
Aluminum prices ranged wide before noon
.
In the morning, Shanghai Wuxi market morning carrier quotation between 11180-11210 yuan / ton, spot liter discount in the discount of 100-discount 80 yuan / ton, the price compared with the previous day down about 570 yuan / ton, 10:30 late aluminum upward, the holder's quotation increased, but still on the plate 100-80 yuan / ton, Hangzhou area is the same, the morning transaction price is around 11210 yuan / ton, after 10:30 the holder's quotation rose close to 100 yuan
。

When the aluminum price is low in the morning, the holders are not optimistic about the future market to actively ship, the market source is very loose, the transaction between the middlemen is acceptable, with the rise of the aluminum period, some holders believe that the early shipment price is too low and there is a loss, the later shipment converges, at this time, although the middleman is willing to receive the goods, but because the receiving price has not reached the psychological price of the holder, the transaction heat of the two sides has fallen
.
Due to the sharp decline in aluminum prices, the willingness to receive goods in the downstream is more obvious, but traders do not ship much, so the actual transaction is more general
.
The overall intraday transaction in East China was poor
.
In the late afternoon, aluminum was weak and shocked, and the price of holders was around 80 yuan / ton, that is, between 11210-11240 yuan / ton, only a small number of transactions between traders, and almost nothing
downstream.
At present, the core contradiction of aluminum prices is still concentrated on epidemic control
.
The foreign epidemic continues to deteriorate, and from the perspective of the number of new confirmed cases, the overseas epidemic has no easing trend, which is reflected in the electrolytic aluminum industry chain as an unfavorable
to the export of aluminum.
Electrolytic aluminum enterprises have incurred losses, and the current loss per ton has exceeded 1,000 yuan
.
Some aluminum plants began to overhaul and reduce production, but compared with weak demand, the production capacity reduction has limited
impact on the supply and demand of electrolytic aluminum.
Recently the macro atmosphere has been frequently disturbed, the market is extremely pessimistic about risk assets, and it is recommended that Shanghai aluminum short orders continue to be held
until the overseas epidemic is effectively controlled.