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On Wednesday morning, the main force of Shanghai aluminum opened at 14440 yuan / ton, the early bulls actively entered the market to push up Shanghai aluminum upward, once touched 14500 yuan / ton, but aluminum prices encountered strong selling pressure at this position, echoed back to below the daily moving average, and then Shanghai aluminum around the daily moving average, that is, the opening position of the shock sorting, the afternoon early short concentrated exit, bulls took advantage of the trend to enter again to test 14500 yuan / ton resistance, difficult to form an effective breakthrough, bulls' confidence was frustrated several times, the end of the session concentrated exit, aluminum prices passive rapid leakage, The low touched 14365 yuan / ton, closing at 14375 yuan / ton
.
The fundamentals are weak, but the policy is supportive, and it is expected that Shanghai aluminum will maintain range volatility in the short term, focusing on the technical resistance of 14500 yuan / ton above and the effectiveness
of each moving average support below.
In terms of external trading, Lun aluminum opened at 1959.
5 US dollars / ton in the morning, and it was sorted
out in a narrow range around the daily moving average during the day.
At the beginning of the session, it fell slightly higher to the daily average of around 1962 US dollars / ton, and continued to try to move up to touch 1966.
5 US dollars / ton in the afternoon, but the high was affected by the domestic market atmosphere, Lun aluminum quickly leaked, entering the European trading session, the inertia downward low at the beginning of the session touched 1953.
5 yuan / ton, and then the center of gravity of Lun aluminum trading steadily moved up, as of 17:00, Lun aluminum 1960 US dollars / ton, down 2 US dollars / ton
.
After 2 consecutive sunshine, the center of gravity is steadily rising, and it is expected that the short-term Lun aluminum will maintain a high level of volatility and continue to gain momentum, aiming to effectively break through 1965 US dollars / ton
.
In terms of the market, the high of aluminum in the afternoon of the month fluctuated
.
In the first trading session, the high volatility of aluminum in the future, as well as the factors at the end of the month, the willingness of the holders to ship at the high is positive, the quotation transaction is 14180-14190 yuan / ton, the end of the first trading session, the low level of aluminum rises, traders are willing to receive goods positively, causing the holders to raise the price to sell, the transaction is concentrated 14200-14220 yuan / ton, the second trading session, the aluminum period repeatedly oscillates, the holders closely follow the price adjustment, the quotation is concentrated 14220-14200 yuan / ton, the willingness of traders to receive the goods converges, and the May Day holiday is coming , downstream enterprises stable procurement, the overall transaction is more active
.
In the late afternoon, aluminum fell back in the month, and the price was 14160-14240 yuan / ton, and the spot discount remained 160-140 yuan / ton, although the end of the day closed down, the market atmosphere is still optimistic
.
On the news front, gold prices fell to a two-week low on Tuesday as fears that French far-right presidential candidate Marine Le Pen would be elected president eased and investors' appetite for risky assets such as stocks grew dragged gold down
.
The dollar rose sharply against the Canadian dollar on Tuesday after the United States announced tariffs
on Canadian softwood lumber.
The euro hit a multi-month high as fears of the French election eased and the European Central Bank was likely to adopt a more hawkish policy
in June.
LME three-month aluminum closed up 0.
9 percent at $
1,963 a tonne.
The main 1706 contract of Shanghai aluminum fluctuated in a narrow range during the day, and the end of the market closed at 14375, and the aluminum price returned to normal after the news, and the short order 14000 line took profit
.
