The most-traded SHFE aluminium 2611 contract closed at RMB 23,490 per tonne, down RMB 95 from yesterday’s settlement price, a decline of 0.40 per cent. It opened at RMB 23,580.00 per tonne during the day, fluctuating within a range of RMB 23,415-23,630 per tonne. Prices are running below the MA5 (23,528.00), MA10 (23,825.50), MA30 (24,055.17), and MA60 (23,828.58) moving averages. The rebound met resistance and pulled back again, revealing a low-level weak consolidation structure, with the moving averages above forming key pressure resistance. The MACD indicator’s DIF (-132.1547) is below the DEA (-27.3207), and the MACD green bar value is -209.6680, with bearish momentum remaining relatively strong. The core trading range for SHFE aluminium is suggested to be RMB 23,200-23,800 per tonne. The LME aluminium 3M contract settled at USD 3,048.00 per tonne, up 0.03 per cent. It opened at USD 3,050.00 per tonne during the day, fluctuating within a range of USD 3,047.00-3,051.00 per tonne. Prices are running below the MA5 (3,063.80), MA10 (3,097.10), MA30 (3,218.30), and MA60 (3,223.88). After a sustained decline, prices stabilised slightly at low levels, revealing a low-level weak consolidation structure, with the moving averages above forming clear resistance. The MACD indicator’s DIF (-55.4246) is below the DEA (-39.2926), and the MACD green bar is -32.2639, with bearish momentum still dominant. The core trading range for LME aluminium is suggested to be USD 2,900-3,150 per tonne.
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