LME Aluminum did not extend the rebound pattern of the previous trading day in last night's trading. Although the increase in nickel during the period brought certain incentives to aluminum futures, the decline in copper futures dragged down the price of aluminum and the LME fell for three months. Aluminum closed at 2,590 US dollars / ton, down 10 US dollars. From a technical point of view, the current price of LME aluminum is running in the box along the 2400-2600, although the box has not yet formed a breakthrough, but the market price has gradually out of the average system to suppress, the desire to break up more strongly.
On the domestic front, Shanghai Aluminum’s overall performance was near-weak and strong, and its open interest has decreased. In early trading, affected by the slight drop in LME aluminum overnight, Shanghai Aluminum's main contract 0612 opened at 20080, followed by bargain-hunting and Masukura's upward movement, but the market price again encountered resistance at 20200 points due to the lack of buying. Promoting, more than the end to give up the resistance, the market price oscillations fell, closing at 20010 yuan / ton, down 140 yuan, the amount of positions to reduce 1674 hands. Judging from today's disk, due to no upward breakthrough in LME aluminum, Shanghai aluminum's trend is hesitant at the previous high point of 20230, but 20,000 points have a certain supportive effect on prices.
Today's domestic spot aluminum prices were between 21,390 and 21,420, which was a drop of around 200 yuan compared with yesterday. The fall in spot prices dragged down the period price. In terms of inventory, LME aluminum inventories rose by 5300 tons to 686,175 tons on October 13. Since the price has not yet formed a breakthrough, and the technical form has not issued a clear signal of buying and selling, it is recommended that more than one package be held with caution.
Fuonce-Lighting , https://www.gdfuonceled.com