Shanghai aluminum fell below the support line or there is further downside

In terms of external trading, in the morning, Lun aluminum opened at 1880 US dollars / ton, during the Asian market Lun aluminum was dragged down by domestic Shanghai aluminum, the center of gravity of the transaction has shifted, the Asian market low probed to 1867.
5 US dollars / ton, into the European trading session, Lun aluminum gradually repaired the decline to near the daily moving average, after many attempts to break through the daily moving average, Lun aluminum put upward, once broke through the 10-day moving average resistance touched 1887.
5 US dollars / ton, as of 17:57 Lun aluminum high fell back to 1881 US dollars / ton, it is expected that Lun aluminum continue to try to rise, Pay attention to the upper moving average pressure
.

In terms of the market, aluminum futures fell all the way before noon of the month, Shanghai trading concentration 13760-13780 yuan / ton, the month discount 210-200 yuan / ton, due to the rapid decline of aluminum futures, spot discount has narrowed, Wuxi transaction concentration 13750-13770 yuan / ton, Hangzhou transaction concentration 13770-13790 yuan / ton
.
Holders are actively shipping at high prices, high aluminum ingot inventory, spot large discounts become the norm in the short term, market demand is mainly the production demand of downstream enterprises, while downstream orders have not yet arrived in the peak season, demand needs to be improved, and the overall transaction is still in a tug-of-war
.
In the late afternoon, aluminum continued to decline in the month, and the holders adjusted prices with the market, and the middlemen inquired positively, but the transaction was less, and a small amount of 13690-13710 yuan / ton
.

In terms of industries, Japan's Marubeni Corporation said that as of the end of January, aluminum stocks at Japan's three major ports were 273,100 tons, a slight decrease of 2,400 tons from the previous month and a sharp decrease of 115,000 tons
from the same period last year.
In 2016, Suixi County aluminum industry base settled in nearly 30 aluminum processing enterprises, basically forming a relatively complete aluminum industry chain, Huazhong Tianli and other 13 aluminum processing enterprises were completed and put into operation, with an annual processing capacity of 700,000 tons
.

Overall, after the fall of intraday aluminum, spot followed the downward trend, and the discount range narrowed limited; The surge in inventories and sluggish consumption will continue to put pressure on aluminum prices, which are difficult to be optimistic
about before consumption improves.
On the market, Shanghai aluminum fell below 14,000 support, or opened further downside, and short orders in the early stage continued to be held
.