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On Friday, the main force of Shanghai aluminum opened at 13980 yuan / ton, black led the rise, short positions closed to hedge, bulls actively entered, aluminum price center of gravity steadily rising, high recorded 14090 yuan / ton, on the 20/40 daily moving average resistance, bulls short-term operation-based, profit taking, aluminum fell back to close at 14030 yuan / ton
.
The upper 20/40 daily moving average has a large resistance, the contradiction between policy deterrence and implementation, Shanghai aluminum short-term still maintains volatility, driven by non-aluminum factors itself and the range fluctuates
up and down.
Due to the lack of new policies and limited implementation, market bearish sentiment breeds, which needs to be vigilant and concerned
.
In terms of external trading, Lun aluminum opened at 1923 US dollars / ton, during the Asian market Lun aluminum around 1922 US dollars / ton, at the end of the Asian market, crude oil leakage dragged down, Lun aluminum fell to 1914 US dollars / ton; Entering the European session, Lun aluminum rebounded sharply to 1927 US dollars / ton
.
The evening data is light, and there is still resistance above 1932 US dollars / ton above Lun aluminum, which is expected to fluctuate
around the 40-day moving average in the short term.
On the macro side, on the international side, the "leak door" incident has turned around, and the dollar has recovered, which has played a certain role
in suppressing non-ferrous metals.
Domestically, market funding remains tight and China's weak April economic data have led investors to believe that future demand for base metals such as copper and aluminum will decline
.
It is expected that the near-term trend of copper and aluminum will be mainly
volatile.
In terms of the market, the center of gravity of aluminum continued to rise to 14,000 yuan / ton
before noon of the month.
Shanghai transaction concentration is 13890-13900 yuan / ton, the discount for the month is 100-90 yuan / ton, Wuxi transaction concentration is 13890-13900 yuan / ton, Hangzhou transaction concentration is 13900-13910 yuan / ton
.
Holders are actively shipping, the market circulation of Weiqiao brand aluminum ingots has increased, prices have risen sharply, downstream enterprises have prepared goods in advance for the weekend, and the willingness to purchase within the day has weakened, resulting in weakened traders' activity and suppressed overall transaction fear
.
In the afternoon, East China traded 13890-13900 yuan / ton, and after the fall of aluminum in the later period, the holders basically did not ship, and it was difficult to trade
.
The main force of Shanghai aluminum 1707 opened low and went high during the day, and the current price has returned to the 10,000 mark, and the resistance is at 14100
.
Tip: Wait and see
.
