[SMM Aluminium Morning News] Shanghai Aluminum Co., Ltd. has resumed its declining position and worries about the pressure on aluminum.

SMM, 13 May:

Overnight Shanghai aluminum main force 2007 contract opened at 12530 yuan / ton, night upward attempt to break through 12600 yuan / ton first-line fruitless, encountered in the morning to maintain the selling pressure, short positions during the continuous decline, intraday low hit 12400 yuan / ton, the end of the day closed down at 12415 yuan / ton, down 0.96%, trading volume to 84000 hands, position volume to 148000 hands. Day line in the shade, down test last week low, Shanghai aluminum in the 60-day moving average near the interval shock, uplink resistance is greater. Delivery is approaching, spot rising water fell, expected to return, intraday May / June difference up to 300 yuan / ton, today's main operating range is expected to be 12300 Mel 12600 yuan / ton.

Overnight aluminum opened at $1496.0 / ton, Asia session opened high and low, failed to break through $1500 / ton, European session continued to decline, the center of gravity fell to around $1480 / ton, the United States session in the US session below $1480 / ton weak consolidation, the end of the session closed at $1479.5 / ton, down 1.14%, trading volume reduced to 10000 hands, position volume to 830000 hands. Although industrial activity is recovering and the market's concerns about the demand side have not completely dissipated, a clearer signal is needed to rebound and rise, which is expected to run in the range of US $1,470,500 per tonne.

"Click to sign up:" 2020 (15th) China International Aluminum processing Summit "

Scan QR codes, apply to attend the meeting or join the SMM Metal AC Group