SHFE aluminium closed at RMB 23,030 per tonne, down 0.78 per cent. The price was below all key moving averages (MA5=23,035, MA10=23,135, MA30=23,359.83, MA60=23,399.08). The moving-average system was in a bearish alignment, and the weak pattern continued.
MACD indicators showed DIF=-196.09 and DEA=-260.78; the golden cross remained, but the histogram narrowed sharply to 129.39 (181.64 the previous day), indicating a rapid fade in bullish momentum and insufficient rebound strength. Trading volume expanded to 91,400 lots, but overall remained at a low level, with market divergence increasing somewhat.
The suggested core operating range for SHFE aluminium is 22,800-23,300. LME aluminium closed at USD 3,138.5 per tonne, edging up 0.08 per cent. The price was below all key moving averages (MA5=3,154.2, MA10=3,158.85, MA30=3,233.43, MA60=3,417.72). The moving averages were in a bearish alignment, and weakness continued.
MACD indicators showed DIF=-62.31 and DEA=-78.14; the golden cross remained, but the histogram narrowed to 31.66 (38.31 the previous day), with bullish momentum weakening. The suggested core operating range for LME aluminium is 3,100-3,160.