March 3 Shanghai aluminum morning review

Overnight, the main force of Shanghai aluminum opened at 14130 yuan / ton, long-term bulls at the beginning of the session tried to protect the Shanghai market, Shanghai aluminum oscillated around the daily moving average, the high touched 14140 yuan / ton, but Lun aluminum leakage eventually triggered a large-scale exit of short-term bulls to avoid the market, the period aluminum leakage, the low touched 13860 yuan / ton, the end of the repair part of the decline closed at 13910 yuan / ton
.
The trading volume decreased by 119,000 lots to 129044 lots, and the position decreased by 5,946 lots to 237318 lots
.
The Shanghai-aluminum 1705 contract increased its position by 7148 lots to 248036 lots, and the position exceeded 1704 contracts for the first time, showing the phenomenon
of backward position.
The overall atmosphere in China is still weak and more, coupled with the overnight decline is too fast, today or will be a technical pullback, test the 5/10/20 daily moving average, is expected to run 13850~14050 yuan / ton
within the day.
Spot discount 220~180 yuan / ton
.