Shanghai aluminum narrow range shock decline is relatively limited

In terms of the external market, Lun aluminum opened at 1916 US dollars / ton in the morning, the Asian session Lun aluminum above the pressure 5-day moving average around the daily moving average oscillated out of the M-shaped trend, the low touched 1910 US dollars / ton, into the European trading session, Lun aluminum continued to maintain range volatility, 5-day line pressure performance is strong, as of 17:33 Lun aluminum reported 1917.
5 US dollars / ton, pay attention to the US non-farm data, expected to be good, or will support the commodity out of the haze, Lun aluminum continue to test the support of the 60-day moving average
.

On the macro side, in the United States, the United States GDP performance in the first quarter was not good, but relevant officials of the Federal Reserve said that the pace of interest rate hikes remains unchanged, there are still two opportunities to raise interest rates this year, and the data needs to pay attention to the performance
of non-farm payrolls.
Domestically, China's first quarter economic operation data performed well, private investment maintained a recovery trend, but the PMI released slightly fell than expected, from the perspective of monetary policy, the recent tight expectations continued
.

In terms of the market, aluminum continued to rise before noon of the month and dipped at the end of the day
.
Shanghai transaction concentration is 13880-13890 yuan / ton, the discount for the month is 40-20 yuan / ton, Wuxi transaction concentration is 13880-13890 yuan / ton, Hangzhou transaction concentration is 13900-13920 yuan / ton
.
The market has a strong bullish atmosphere, with the rise of aluminum in the future, the willingness of holders to sell at a high price is gradually stronger, the middleman actively receives the goods, the downstream enterprises passively receive the goods, the overall transaction is active, and the speculative atmosphere is stronger
.
In the late afternoon, aluminum fluctuated at the high level of the month, both ends of supply and demand were on the sidelines, and the market was cold in the afternoon
.

The Shanghai aluminum 1706 contract rebounded to yuan / ton during the day, and the aluminum futures also passively fell under the drag of the pressure and decline of other base metals, but the decline was relatively limited
.
In terms of operation, it is recommended that the Shanghai aluminum 1706 contract can be backed by 14100 yuan below the sky, the entry reference is around 13950 yuan, and the target is 13750 yuan / ton
.