SMM, 14 April:
On Monday, the 2006 contract of the Shanghai Aluminum Company was opened as high as 11845 yuan per ton. In the first trading session before noon, short positions increased pressure in the first 30 minutes of the session, and Shanghai Aluminum quickly fell back to the lowest level of 11730 yuan / ton in the day. Then, when the bulls entered the market, Shanghai Aluminum rebounded back to 11790 yuan / ton again. Entering the second trading session, the market rose and fell again, and after a brief finishing in the afternoon, it closed down at 11755 yuan / ton, down 90 yuan / ton, or 0.76%, from the previous day. Trading volume decreased by 14107 hands to 73504 hands, and position increased by 3436 hands to 141000 hands, mainly by short positions. The daily K line closes a small negative line, hovering near the 5 / 20 moving average. Today, the long short game is fierce, crude oil prices continue to boost non-ferrous, domestic fundamentals, the supply side slightly narrowed, the demand side of domestic trade month-on-month warming in the past two weeks, the overall trading mood is optimistic. It is expected that the Shanghai aluminum main concussion today will run at 11700-11900 yuan / ton, and the spot will be posted 20 yuan / ton to rise 20 yuan / ton that month.
Aluminum is closed on Monday for the Easter holiday.
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