The most-traded SHFE aluminium 2611 contract closed at RMB 23,605 per tonne, up RMB 225 or 0.96 per cent from yesterday’s settlement price. It opened at RMB 23,490.00 per tonne during the day and fluctuated between 23,490 and RMB 23,675 per tonne. Prices traded below the MA5 (23,662.00), MA10 (23,912.50), MA30 (24,069.50), and MA60 (23,822.92), rebounding after a short-term decline. A rebound-from-lows consolidation structure is emerging, with the short-term moving averages above forming key resistance. The MACD DIF (-100.9745) is below the DEA (1.1214), and the MACD histogram stands at -204.1917, indicating bears still hold strong momentum. The suggested core trading range for SHFE aluminium is RMB 23,300-24,000 per tonne. The LME aluminium 3M contract settled at USD 3,062.50 per tonne, up 0.18 per cent. It opened at USD 3,060.00 per tonne during the day and fluctuated between USD 3,058.50 and USD 3,065.00 per tonne. Prices traded below the MA5 (3,086.00), MA10 (3,115.20), MA30 (3,226.30), and MA60 (3,225.61), rebounding slightly after a short-term decline. A consolidation-at-lows structure is emerging, with the moving averages above forming clear resistance. The MACD DIF (-51.9102) is below the DEA (-35.0124), and the MACD histogram is -33.7957, indicating bears still hold the advantage. The suggested core trading range for LME aluminium is USD 2,900-3,150 per tonne.
US President Trump said on social media that the Russia-Ukraine conflict has entered an “energy ceasefire” state, and both sides have agreed. Ukrainian President Zelensky said Ukraine supports practical and reliable ways to achieve a ceasefire and end the war, and Ukraine is willing not to strike Russian energy facilities and expects Russia to take the same action. US President Trump has announced the energy ceasefire arrangement, which Ukraine welcomes and hopes will be truly implemented. In August this year, China’s Enterprise Credit Index stood at 161.32, up 2.45 points from July. Compared with July, the manufacturing, transportation, warehousing and postal, and wholesale and retail sectors saw faster index growth, with manufacturing reaching its highest ranking so far this year.