Tuesday's aluminum continued to fall. After LAU opened lower at 1771.5, it oscillated slightly in the session and the aluminum price touched 1788.5 higher. With the sell-off, aluminum prices fell again, dropping to a low of 1744, compared to a closing price of 1752, down $20 from Monday. A total of 96,411 contracts were traded on the day, a decrease of 10,047 lots compared to Monday; the number of positions opened was 3,920,228 lots, an increase of 459 lots compared to Monday; the inventory volume was 557,500 tons, a decrease of 4,500 tons compared to Monday. The London Metal Exchange (LME) base metal fell late on Tuesday and ended the day near the low of the day. The decline in copper prices laid the foundation for the market. Three-month aluminum followed the copper downtrend, slipping $21 to $1,752 per ton. Foreign exchange market: Fed Chairman Greenspan really urged China to reform the old exchange rate system. The Governor of the Bank of China pledged to make changes at a time when China felt appropriate. Although overseas investors have tangible expectations of China’s reforms, they have actually changed little. The G8 finance ministers' meeting was held in London this week, and China was also invited to attend. As a result, speculation about reforms will continue, but traders in Asia and Tokyo, unlike Western investors, agree that recent changes are unlikely. In the Asian market, the non-US currencies maintained their first-line consolidation at the rebound high, and it is expected that there will be a downward adjustment risk in the afternoon market. Regarding data, no important data was released today and it is relatively light. The EUR/USD rebounded to 1.2294 on Monday and then fell again. Then it gained support at the 1.2234 low. Operational recommendations: rebound to lighten up.
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Tig Back Cap, Short Back Cap, Long Back Cap
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