Aluminum prices suffer technical encounters

The weaker copper prices soon led to aluminum encountering new technical selling below the recent support at 1735. The fundamentals are also unfavorable and trade buyers are happy to reduce their buying. The mid-afternoon market seems to be revisiting the downward trend. The earlier decline has stagnated at 1729. After the aluminum price reached 1717, there was no subsequent downside. It closed at 1720, with a daily decline of 22. Point of view: Currently, you need to hold 1717/20 support, otherwise you will retry the 1700 area.

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