[brief comment on Aluminum in SMM Phase] the trend of aluminum price in the day is still stable and there is still a certain degree of support.

Published: Jun 5, 2019 15:27

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The trend of aluminum price is more stable than that of ten thousand four points in the day, and there is still a certain degree of support.

SMM, June 5 / PRNewswire-Asianet /-

The 1907 contract of Shanghai Aluminum main Company opened at 14080 yuan / ton in the morning, fluctuated in a narrow range around 14075 yuan / ton in the morning, and the price difference did not exceed 20 yuan / ton. The bulls entered the market in the afternoon to push the price up, but fell back quickly after hitting an intraday high of 14105 yuan / ton. The end of the day continued to fluctuate at 14085 yuan per ton. The trend of Shanghai aluminum was relatively stable and fluctuated slightly during the day, closing at 14085 yuan per ton, up 10 yuan per ton, up 0.07 percent, trading volume decreased by 68478 hands to 77048 hands, and position volume decreased by 7834 hands to 222000 hands. Today, short positions were mainly reduced, closing at the Xiaoyang line. However, it is still not below the 40-day moving average and the center of gravity is basically the same as yesterday. Judging from the trend of Shanghai aluminum, there is still a certain degree of support at Wansi pass, as aluminum metal fundamentals have not changed significantly today, continue to pay attention to the evening market atmosphere and long short position changes.

(SMM Shanghai Nonferrous Xu Man 021 5159 5898)

Evening news

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