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On Friday, the main force of Shanghai aluminum opened at 12030 yuan / ton, Lun aluminum fell sharply overnight, spot trading was sluggish recently, short positions increased sharply before the afternoon, aluminum prices continued to fall, the low touched 11860 yuan / ton, in the afternoon, aluminum prices low triggered bulls to enter the market, aluminum prices rebounded and fluctuated, closing at 11905 yuan / ton, down 160 yuan / ton
.
The main shock range of Shanghai aluminum increased, the effectiveness of the 60-day moving average support gradually weakened, and from the weekly moving average, the center of gravity of aluminum prices shifted
downward.
In terms of external disk, Lun aluminum opened at 1540 US dollars / ton, Asian market, before the afternoon Lun aluminum low oscillation, noon, Lun aluminum opened an upward channel, Asian high touched 1549.
5 US dollars / ton
.
Entering the European and American session, Lun aluminum fluctuated at a high level, as of 17:00, Lun aluminum recorded 1550 US dollars / ton, Lun aluminum touched the 5/10/20 daily moving average, breaking through the upper average pressure still needs to be further strengthened
.
On the macro front, Thursday's OPEC meeting ended in a no-brainer, with no new policy or output cap agreed on due to Iran's opposition, despite Saudi Arabia's pledge not to increase production
.
The ECB announced that interest rates were left unchanged, and ECB President Mario Draghi said inflation could remain very low or even negative in the coming months
.
Overall, non-ferrous metals divergence, aluminum fell sharply, and it is expected that domestic aluminum will continue in a range shock pattern
.
In terms of the market, aluminum futures fluctuated to the downside
before noon that month.
In the early stage of the transaction, the supply and demand ends showed a tug-of-war, the transaction was sluggish, the holder had no choice but to lower the price, the middleman was willing to receive goods at a low price, the downstream enterprises purchased on demand, the aluminum shock was weak, the spot transaction was sluggish, and the demand side had a gradual increase in the supply and demand tug-of-war
.
In the late afternoon, aluminum rebounded slightly, Shanghai Wuxi holders maintained a quotation of 12350-12360 yuan / ton, holders actively shipped, middlemen and downstream willingness to receive goods cold, only a small number of transactions
.
On the whole, Shanghai aluminum oscillations are lower, and the rebound momentum is insufficient
.
In terms of supply, the supply of aluminum has gradually increased, especially the price of far months is under pressure
.
At present, industrial products can not go bullish, Shanghai aluminum is the weakest metal, limited shorting, far month is expected to fall back to 11,000-11,500
.
