Shanghai Aluminum's outstanding performance is expected to close the range of around 15000-16,000 yuan. Copper prices closed lower on Friday, and the negative side caused by the dollar's decline affected copper prices. Last week's economic data showed that the number of non-farm payrolls in the United States increased by only 32,000 in July, which is in stark contrast to the increase in employment in the previous month, and was significantly lower than expected. The data came out against the buying intentions of the market. The shrinking of fundamentals inventory has created conditions for the spot premium, and it also makes investors who have bought up to find more reasons. From a technical point of view, because there is no effective breakthrough in the resistance of $2800, the market continues to be weak, and the current market is confrontation. It is expected that the market outlook will be sorted out at the range of $2,750-2,800. Shanghai copper has a strong trend today, breaking the trading range of the previous day. Before the apparent breakthrough of the London copper, the price relationship between the two cities was significantly revised. The aluminum market does not have any hotspots. Interval consolidation will be the main tone of the aluminum market in the later period. Shanghai Aluminum performed well, escaping from the recent lows and there was a clear uptrend in the session. It maintained its high position to the close and the market showed signs of recovery. However, the trading volume and the amount of empty stocks have not been effectively enlarged, and the resistance of 16,000 yuan will be difficult to break through in the short term. It is expected that the trend will be adjusted around the range of 15000-16,000 yuan. (Li Ling)
