May 13 Shanghai Jinpeng Shanghai Aluminum Weekly Review

This week, LAU continued its downward trend. It is expected that the rebound will not be accelerated but will be accelerated. Under the pressure of bank selling close to the weekend, the aluminum price fell below 1750 U.S. dollars to 1737 U.S. dollars, and closed at 1747 U.S. dollars near the low of last October. point. The strong US retail data in the US helped the dollar to hit the metal market. The already weak aluminum market has fully absorbed the negative factors in the market. Breakthrough of $1,750 was easy, and the market did not return to above $1,750 in time. The buying interest did not enter the market. Recently, Alluminium continued to fall for support. Technically, the next support level is at $1720, but from a momentum standpoint, the role of the support level is hard to show in the short term. Shanghai Aluminum fell following the copper market today, but due to the limited downside, it only ended slightly lower and ended the entire day's trading. The spread between the two contracts has continued to expand. It is expected that this year's supply exceeding demand will have a greater impact on the later trend. This week, the exchange stocks increased by 883 tons to 49,092 tons, ending the process of the recent sharp decline in inventories. The spot price in the South China Sea has been close to the spot price in Shanghai, and the increase in supply has caused the spot in the South China Sea to break away from the high point. Today's spot price is at 16,900. Yuan around. Aluminum, which expects a passive decline, can expand its trading space and provide more trading opportunities.

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