Alumina 2505 Contract Closes Lower Amid Technical Resistance, Weak Market Sentiment

Published: Mar 31, 2026 16:03

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Last night, the most-traded alumina 2505 contract fluctuated lower to close down. After rebounding to 2,940 yuan/mt during the session, it came under pressure and pulled back, hitting an intraday low of 2,892 yuan/mt before closing at 2,900 yuan/mt. Technical indicators showed that the short-term moving averages MA5, MA10, and MA30 converged in the 2,923-2,925 yuan/mt range, forming clear technical resistance. The closing price was below the moving average system, highlighting a weak pattern. Trading volume shrank by 37,000 lots to 157,000 lots, while open interest increased against the trend by 3,388 lots to 206,000 lots. The divergence between volume and open interest indicated intensifying differences between bulls and bears, with stronger willingness among funds to bargain at low levels, but prices failed to effectively break above the moving average resistance, and the market may remain in the doldrums in the short term.

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