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On Tuesday, the main force of Shanghai aluminum opened at 13680 yuan / ton, the beginning of the short cover, aluminum prices slightly upward touched 13715 yuan / ton after falling back to 13660 yuan / ton, low bulls tentative entry increased, aluminum prices slowly moved up, afternoon touch 13745 yuan / ton, 4-hour K-line chart in the 5-day moving average shows strong resistance, Shanghai aluminum is difficult to form an effective breakthrough, the outer metal collective diving, Lun aluminum also fell sharply, domestic bulls chose to leave the market to escape, bears took the opportunity to pressure, The end-of-session aluminum price fell sharply to close at 13675 yuan / ton
.
At present, it seems that the long-short divergence is becoming more and more obvious, the resistance of the moving averages above the aluminum price is large, and the short-term trend of Shanghai aluminum is expected to remain weak
.
In terms of the external market, the morning Lun aluminum opened at 1904 US dollars / ton, the Asian market afternoon London aluminum trend is light, the trading center of gravity slowly moved up, the afternoon early London aluminum amplitude intensified, the high touched 1910.
5 US dollars / ton, then the volume fell sharply, into the European trading session Lun aluminum low touched 1892 US dollars / ton, and then slightly rushed up to 1899 US dollars / ton after falling again, as of 17:16, Lun aluminum reported 1893.
5 US dollars / ton, pay attention to whether the bulls give up the 1900 US dollars / ton integer mark, Lun aluminum may be able to achieve a technical rebound
.
On the macro front, oil prices fell nearly 1 percent on Monday as investors worried that Saudi Arabia, a global crude oil exporter, and other Arab countries announced the severance of diplomatic relations with Qatar, which could affect the implementation of
the global production cut agreement.
Gold held steady on Monday after hitting a six-week high as disappointing U.
S.
jobs data lowered the likelihood of a quick U.
S.
rate hike but may not change the outlook
for a rate hike at the Federal Reserve's meeting this month.
Analysts said the market was overconfident that the ECB's dovish stance would wane, leaving the euro vulnerable to disappointment with the
ECB's failure to meet expectations.
In terms of the market, the aluminum period fluctuated
around the daily moving average that month.
Shanghai transaction concentration is 13580-13590 yuan / ton, the discount for the month is 50-40 yuan / ton, Wuxi transaction concentration is 13570-13590 yuan / ton, Hangzhou transaction concentration is 13580-13600 yuan / ton
.
Due to the sharp fall of aluminum overnight, the spot discount narrowed slightly, at the same time, the market circulation source increased, downstream enterprises purchased on demand, middlemen had no obvious willingness to stock up, the performance was more cautious, the overall transaction was general, mainly focused on actual demand
.
Aluminum fell back at the end of the month, and the trading volume in East China was concentrated at 13600-13610 yuan / ton, due to the upward trend of aluminum futures, the transaction was more active
than in the past.
Within the day, the main 1708 contract of Shanghai aluminum fluctuated and fell, the tail market 13735, aluminum prices will continue to fall in the short term, 14000 is the main pressure in the medium term, short-term 13500 support, short orders appropriate take profit, rebound and short, maintain short thinking
.
