The most-traded SHFE aluminium 2611 contract closed at RMB 23,120 per tonne, down RMB 225 or 0.96 per cent from yesterday’s settlement price. It opened at RMB 23,155.00 per tonne and fluctuated between 23,105 and RMB 23,310 per tonne. Prices traded below the MA5 (23,332.00), MA10 (23,604.50), MA30 (24,012.83), and MA60 (23,822.42), continuing to weaken and consolidate on a subdued note at low levels, with the moving averages above forming key resistance. The MACD DIF (-205.8355) remained below the DEA (-88.0924), and the MACD green bar stood at -235.4861, indicating persistent bearish momentum. The suggested core trading range for SHFE aluminium is 22,900-23,400 RMB per tonne. The LME aluminium 3M contract settled at USD 2,990.50 per tonne, up 0.05 per cent. It opened at USD 2,990.00 per tonne and fluctuated between USD 2,988.50 and USD 2,994.00 per tonne. Prices traded below the MA5 (3,023.60), MA10 (3,064.80), MA30 (3,196.77), and MA60 (3,217.42), stabilising slightly at low levels after the continued decline, with a weak consolidation structure emerging at lows and the moving averages above forming clear resistance. The MACD DIF (-65.6867) remained below the DEA (-48.3610), and the MACD green bar stood at -34.6515, with bearish momentum still dominant. The suggested core trading range for LME aluminium is USD 2,900-3,050 per tonne.
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