Aluminum aluminum futures weak adjustment technology adjustment pressure has increased

Today's Asian City 3-month aluminum futures weak consolidation, the performance is weaker than the period of copper and Shanghai aluminum, aluminum Lu aluminum in the three months closed down 0.29% to 1,871 US dollars. In view of the above 1,300 US dollars integer above the threshold of aluminum pressure, and on the daily chart MACD red column gradually lower, suggesting that short-term technical adjustment pressure has increased.

Spot: On April 25th, the current price of aluminum in the Yangtze River was 13380-13420 yuan/ton, and the premium was 75-to-35 yuan/ton. The premium was significantly narrower than that on the 24th. According to SMM, although there was a reversal between the aluminium plates, the increase in pick-ups over the weekend, coupled with the psychology of the price of the holders, the price remained high and the spot premium dropped sharply, almost flat against the current month's aluminum, showing the spot price. The market is still under the control of bulls and the overall trading is more active.

Inside plate trend: today's Shanghai aluminum main contract 1407 trend oscillation, late closing down 0.84% ​​to 13,575 yuan, the top resistance for the year hit a high of 13,760 yuan in February, the bottom support for 13,500 yuan / ton. Currently, the aluminum market's term structure is in a positive order with a low level and a high level. The positive price gap between the 1406 and 1407 contracts is RMB 60/t, and the spread is slightly smaller than yesterday.

Analysis of market factors: Both the German IFO Business Climate Index and the United States Durable Goods Orders data released yesterday were better than expected, resulting in improved market sentiment. Today's Asian city announced that Japan’s national CPI rose by 1.6% year-on-year in March, the largest increase in record, which will increase the Central Bank’s expectation of keeping interest rates unchanged on the third Wednesday. In Europe and America today, there is a lack of key data guidelines. In the aluminum industry sector, Citigroup expects its annual aluminum output to increase by 4.9% to 52.7 million tons in 2014. The increase in demand will reach 6%, and the market will further push the balance between supply and demand. However, this year's capacity will still record a small amount of 162,000 tons. Surplus.

Quoted from the market: Today's Shanghai aluminum futures trend began to be weaker than Shanghai copper, due to excessive gains in the past two days, short-term technical callback demand. However, due to the impact of Shanghai copper rose during the day, the decline in Shanghai aluminum futures is still limited. Operationally, it is recommended that Shanghai Aluminum futures contract 1407 in the evening can be more cautious than 13500 yuan, and the above resistance should be paid attention to 13,750 yuan.