Shanghai aluminum has a strong willingness to rise and performs slightly better than other non-ferrous metals

Externally: Asian aluminum oscillation declined, but its performance was obviously resistant to other base metals, of which Shanghai aluminum closed at 1493 US dollars / ton, up 0.
4% from the intraday low of 1487 US dollars / ton, indicating that its willingness to fall has weakened
.

On the macro front: The Asian dollar index fell under renewed pressure, weighed down by Fed Chair Janet Yellen's dovish speech, but the weak dollar did not benefit non-ferrous metals as the market shifted to a weak demand outlook
for China.
China's manufacturing PMI for March will be released on Friday, and both the official and Caixin manufacturing PMIs for February are below the 50-boom line, in addition to next Monday's Qingming holiday, there is a high profit-taking demand for bulls who were profitable in the early stage
.

In terms of market: Shanghai holders have weakened their attitude towards supporting prices, expanding shipments, Shanghai middlemen and downstream adopt a wait-and-see attitude, supply and demand continue to tug-of-war, bullish mentality, Wuxi middlemen are willing to replenish goods at low prices, the market quickly digests low-priced aluminum ingots, spot prices rise slightly, Hangzhou market circulation sources are tight, spot prices are high, and the overall transaction of the market is differentiated
.

News: In February 2016, China's aluminum alloy wheel exports amounted to US$259 million, with an export volume of 55,500 tons, down 8.
2% year-on-year and flat
, respectively.
The export unit price is 4.
66 US dollars / kg
.
As of the end of February, China's aluminum alloy wheel exports amounted to 563 million US dollars, with an export volume of 120,600 tons, down 14.
6% and 7.
8% respectively year-on-year; The export unit price is 4.
66 US dollars / kg, and there are 484 export manufacturers, of which the top 40 manufacturers have a total export value of 466 million US dollars, accounting for 82.
8% of the total export value of the product; The total export value of the top 100 manufacturers was 538 million US dollars, accounting for 95.
6%
of the total export value of this product.

The Shanghai aluminum 1605 contract was running at a high level for the third consecutive day during the day, but its performance was much stronger than other base metals, as the short-term aluminum market supply and demand contradiction has eased, so when the risk of other non-ferrous metals pullback increases, Shanghai aluminum can be used as a hedging variety
.
It is recommended that the short long position of the Shanghai aluminum 1605 contract should be 11650 yuan / ton as the dividing line, and be held
cautiously before it falls below.