Fundamental tension, copper, aluminum prices rose
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This week is the last trading week after the long holiday. The LME continued to hit a record high during the long holidays. The domestic market opened the day before the daily limit. After two consecutive gaps in the gap, the market fell back in the second half of the week. Judging from the situation of the disk, the trading volume has been enlarged and the divergence between the long and short sides in the current price range is relatively large. The ratio between the current domestic price and the LME price is still at a relatively low level, so leaving short in the domestic market will be more passive.
LME this week saw a significant drop in prices. After the LME hit a new high, such a correction is a technical requirement. Because in the 7 consecutive trading days, LME prices have risen continuously by 230 US dollars. From the week K line, it has completed a 4 to 5 week up cycle. Now investors should pay attention to the level and time period of this callback.
Shanghai Aluminum's price has risen this week, and spot prices have also been reported at more than 17,000 yuan/ton. There will be resistance in the price range of 17400 --- 17500 aluminum market aluminum future, there will be a consolidation pattern in the aluminum market in the future, the consolidation range will be 16,800 --- 17,500.