U.S. economic data is still weak despite the trend of aluminum prices

Unexpectedly lower unemployment rate in the United States in November, European leaders and central bank officials redoubled efforts to deal with the sovereign debt crisis and other news on the market constitute good, LME basic metals market major metals closed up, last week's sharp rebound is also a large increase in months of. The six major central banks in the world decided to inject liquidity into the banking system, which boosted investor confidence and pushed up prices of basic metals and other assets. Positive US employment data and indications that China's move to an easing monetary policy model helped boost the aluminum price, but some market participants fear that this wave of upswing may soon deplete momentum. Data shows that the unemployment rate in the United States fell to a two-and-a-half year low in November and companies increased recruitment, further confirming that the economic recovery is accelerating. Investors expect that at the EU summit on December 9th, more convincing measures will be reached to resolve the European debt crisis and prevent further deterioration of the economic environment. The ECB's president suggested on Thursday that if politicians decide next week to adopt tighter budgetary controls in the eurozone, then the central bank is prepared to act more aggressively to fight the European debt crisis. Despite the poor debt conditions in the euro area, the decline in the unemployment rate in the United States reflects that the U.S. economy has now emerged from the crisis and resumed its modest growth, which has an incentive effect on the commodity market.

At present, factors affecting the price of base metals will be added to China's new factors in addition to the European debt issue. The China factor mentioned here not only includes China's basic metal demand, but also has a more direct and greater influence on China's monetary policy. Judging from the current situation in China and Europe, it is clear that the economic recovery trend from the United States is still difficult to completely dispel the global economic downturn. The European debt crisis is a continuous and long-term problem. This is already a consensus of the market. Therefore, when China's factors have worsened, the price of base metals is going up.

On Friday, London's aluminum opened at 2,130 U.S. dollars, with a maximum of 2,165 U.S. dollars, and the lowest fell to 2,116.25 U.S. dollars. It eventually closed at 2,128.25 U.S. dollars, up 2.5 U.S. dollars, or 0.12 percent. The Japanese K-line received a cross star, the upper shadow line is longer, indicating that the pressure above the huge, Leng aluminum may not be able to sustain the rise. The upper resistance is near 2150 USD and the lower support is 2080 USD.

On Monday, the Shanghai aluminum main contract 1202 opened at 16,240 yuan, a slight rise to 16280 yuan after the shock down, the lowest fell to 16,205 yuan, eventually closing at 16,220 yuan, compared with the previous trading day settlement price fell 20 yuan, a decrease of 0.12%. From the Shanghai Aluminum Index, the trading volume was reduced by 19,000 hands to 24,000 contracts, and the open interest decreased by 0.2 million to 240,000 hands. The Wanzhou mark temporarily provided support, but the price rebound was highly limited. The upper resistance was at the level of 16,400 yuan. Constrained by the weak demand side, the aluminum market may maintain the range volatility in the late period. In operation, investors are advised to wait and see, and more than 16,000 yuan into the bottom of the list can only take profit.