Shanghai Jinpeng Shanghai Aluminum Market Review (March 9)

Overnight, the aluminum price was strong, and the aluminum price climbed to an all-time high of 1988, and the uptrend was maintained until the close. The fall in the dollar provided support for aluminum prices, and it is expected that the dollar will continue to test its previous lows to test the effectiveness of the support level. With the weakening of the U.S. dollar, Lon-Aluminum, in addition to its good fundamentals, found another reason to support the continued rise in aluminum prices. Shanghai Aluminum actively traded today. The open interest of the main contract volume expanded synchronously. The aluminum price broke the original trading pattern. Under the impetus of buying, each contract rose by around 350 yuan. Today's opening of Shanghai aluminum spot market did not immediately show a strong trend, after the support of the buying price rushed 200 points. The spot aluminum price in the South China Sea remained at 16650-16750 yuan. The spread of the current price gap has attracted the intervention of futures buying. With the recovery of capacity, spot pressure will gradually emerge in the next few days. (Li Ling)

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