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Last Friday Lun aluminum opened at 2042 US dollars / ton, the center of gravity of Lun aluminum slightly moved upward to the upside, slightly touched 2052.
5 US dollars / ton, but the upper 4-hour K-line chart 5-day moving average resistance is obviously strong, Lun aluminum turned down to open the downward mode, into the European trading session, the dollar rose back above 95 points, Lun aluminum is even more released to the low level of 2021.
5 US dollars / ton, then Lun aluminum repaired the decline, the high rose back to 2058 US dollars / ton, still can not break through the 5-day moving average resistance, The retreat closed at $2036/mt
.
Lun aluminum smoothly along the 5-day moving average lower edge, and the high and the 5-day moving average distance is widening, Lun aluminum continued to fall mode, intraday operation 2015 ~ 2050 US dollars / ton
.
On the macro front, the US dollar was weighed on Friday by a weaker-than-expected consumer confidence index in Michigan, in addition, the optimistic wording of the Fed's monetary policy report, and the gradual pattern of interest rate hikes, and the non-ferrous market maintained a volatile momentum
.
The short-term decline in social inventory has slowed down, and the consumer side is weak to suppress aluminum futures prices, but in view of the current stabilization and rebound of alumina prices, superimposed policy expectations remain, it is expected that aluminum futures prices may have limited space to explore, and maintain a volatile view
for the time being.
