On Wednesday, LME aluminum fell 22 US dollars, to close at 1942 dollars. The market for aluminum was 14,964 lots, and the market was far less active than the previous day. Investment psychology has become increasingly cautious. Investors are prepared for the drop in the aluminium market. Yesterday, led by the fall in the price of London copper, most varieties of the entire basic metal market have dropped to varying degrees, as the aluminum is naturally not spared. In addition, after Lon Aluminium had failed to rush for 2000 US dollars in resistance, the futures price showed a weak trend and fell all the way. Although it later picked up, the accumulation of market sentiment was far worse than it had been some time ago. Therefore, the market's defensive weakness is weak. Once the entire basic metal market falls sharply, it is difficult to obtain effective support. In terms of inventory, LME aluminum stocks decreased by 825 tons on Wednesday, and the current total inventory is 499,600 tons. For investors, the current market for aluminum should be viewed with a wait-and-see approach.
Domestically, with the constant departure of speculative funds, the current domestic market has apparently insufficient kinetic energy. Both the Aluminum Aluminum Market and the Shanghai Aluminum Market experienced different degrees of decline, which led investors to wait and see. In such a market environment, the fall in Shanghai aluminum market price is inevitable. Therefore, investors are advised not to consider entering operations temporarily.
Today, Shanghai Aluminum's main 0601 contract opened at 17,100 yuan, with a high of 17,130 yuan and a low of 17,030 yuan. It closed at 17,080 yuan at noon.
Operation: wait and see.
Zhao Wei
Check Valve,Swing Check Valve,Water Check Valve,Stainless Steel Check Valve
Wenzhou Dico Valve Technology Co.,Ltd. , https://www.dicovalves.com