Interim Jiahe: Lon Aluminum Climbs 2000 Dollars Unsuccessful, Shanghai Aluminum Futures Price Falls

Yesterday, LME aluminum fell 11 US dollars. Floor aluminum closed at 1988 US dollars, the market was relatively active, closing 20,844 contracts. Investors are prepared for yesterday's Lun aluminum trend. First of all, the integer mark of 2000 dollars puts pressure on the futures price very clearly, causing the apparent upward momentum to be insufficient. Second, the September producer price index (PPI) data released by US producers was 1.9%, a 15-year high. This data has a huge impact on the U.S. dollar. Yesterday the U.S. dollar index soared to 90.57, surpassing the previous week's high of 90.41. The strength of the dollar will inevitably affect the trend of the metal market. Of course, Aluminum is no exception. Under the concerted efforts of the two pressures, the aluminum market will naturally experience a certain degree of decline. Despite this, investors are still confident about the future price trend. A trader optimistically stated that “Although the current three-month aluminum price has stopped at $2,000, there will be more buying of funds.” From a technically graphical standpoint, although the aluminum price has declined to some extent, Its ascending aisle has not been destroyed. The bullish aluminum market's bullish pattern has not changed.

From the domestic situation, due to the continuous improvement of the market environment, aluminum smelting costs are also greatly increased. These fundamental factors will stimulate the strength of aluminum prices. At the same time, the degree of attention of the OTC market to the Shanghai aluminum market has also increased, and the aluminum market has significantly increased its position. All these will play a positive role in the active aluminum price. Although the failure of Aluminium's futures price to soar above 2000 dollars will have a certain degree of influence on the bullishness of the Shanghai aluminum market, this does not change the long-term pattern of the Shanghai aluminum market.

Today, Shanghai Aluminum's main 0601 contract opened at 17,450 yuan, a high of 17,450 yuan, a lower 17230 yuan, to close at 17,280 yuan. 14536 lots were traded throughout the day, accompanied by a small amount of lightening.

Operation: More than one continues to hold.

(Zhao Wei)

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