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Overnight Lun aluminum opened at 1871 US dollars per ton, LME metal is generally stronger during the Asian session, Lun aluminum shock upward touch 1885 US dollars / ton, into the European trading session after Lun aluminum rally converged, high oscillation above the daily moving average, with the opening of the domestic market, Lun aluminum fell sharply to 1862 US dollars / ton, but then repaired most of the decline, closed at 1878 US dollars per ton, The position increased by 9522 lots to 674,000 lots, and it seems that the sustainable rebound momentum of Lun aluminum is limited, and it is expected that today's Lun aluminum shock runs at 1855~1888 US dollars / ton
.
The market awaits the news of the Sino-US trade talks; China's central bank cut the RRR by 1 percentage point, while the Fed chairman's latest dovish statement is full of meaning, coupled with the outstanding performance of the non-farm payrolls data, the weakening of the US dollar, and the strengthening of market confidence, which is positive and positive
.
At the macro level, in order to further support the development of the real economy, optimize the liquidity structure, and reduce financing costs, People's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 1 percentage point.
This RRR reduction will release 1.
5 trillion funds, short-term non-ferrous sectors may rebound; on the supply side, domestic electrolytic aluminum enterprises reached a joint production reduction consensus to boost aluminum prices limited; on the cost side, alumina prices stabilized in the short term, and electrolytic aluminum costs remained stable in the short term; on the demand side, the weakening of aluminum downstream consumption is a foregone conclusion; in terms of inventory, it is currently in the off-season of consumption, and the accumulation is expected to continue, and aluminum prices are short
for a long time.
The overall operating idea is still recommended to sell short on the high
.
