On Wednesday, Alluminium rebounded slightly. Aluminium opened lower after 1932. Under the push of buying, aluminum prices gradually rebounded, hitting 1952 on a higher level, compared with a closing price of 1950, up by 15 dollars from Tuesday. 102,437 contracts traded throughout the day, an increase of 12,029 contracts compared to Tuesday; the holdings were 415,290 lots, 663 less than the previous Tuesday; inventory was 542,125 tons, 800 tons less than Tuesday. The LME copper futures aluminum held steady at the beginning of the European market on Wednesday, with the US dollar weakening and aluminum rising slightly. The market was in a trading range. The US dollar provided little support for the market. In the interval, there was a buying of Chinese traders. Analysts said that the long-term trend of commodity futures is still promising. Traders believe that this week's metal consolidation is related to the dollar's turmoil. Due to the lack of important economic data, the dollar is in a narrow range. If the dollar can weaken, before the signs of a further slowdown in global economic activity emerge, metal prices There may still be another wave of gains. Three-month aluminum rose 15 US dollars to 1,950 US dollars, but still far below the 10-year high of 2,016 hit in March. Foreign exchange market: In Asian markets, the dollar oscillated and most non-US currencies continued to rebound. In terms of data, Japan’s leading indicators for February were 20.0, far exceeding the 5.6 forecast; however, the simultaneous indicator of 16.7 was lower than the 20.0 forecast. In the early morning, the Reserve Bank of Australia made a decision to suspend the rate hike. The resulting sentiment dampened the Australian dollar lower. However, the Australian dollar is still holding steady at the 0.7630 line. The US dollar index went up and went down, and the high of 85.44 above the February 10 high pressure constituted strong pressure. The dollar is expected to oscillate back within days. Operational recommendations: rebound to lighten up.
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