[brief comment on SMM Aluminum] Shanghai Aluminum opened in the cross star opening trend is not strong, weak shock in the day.

Published: Jun 18, 2019 15:49
Shanghai aluminum opened in the cross star opening trend is not strong, weak shock in the day

SMM, June 18 / PRNewswire-Asianet /-

The 1908 contract of Shanghai Aluminum main Company opened at an intraday high of 13820 yuan / ton in the morning, but immediately ran into a short position increase and recorded a cross star, and then fell below the daily average and maintained a wide concussion of 13800 yuan / ton. During the period, it briefly fell 13780 yuan / ton, and some short positions in the last session pushed up the aluminum price back to 13810 yuan / ton position, finally closing at 13810 yuan / ton, down 15 yuan / ton, down 0.11%, and the trading volume decreased 29270 hands to 102000 hands. Position increased by 7190 hands to 255000 hands, closed at the Xiaoyang line, the center of gravity continued to sink from yesterday, far from the upper 5-day moving average. The macro news within the day is light, the inner plate metal red and green, Shanghai aluminum in the fundamental short situation has not changed the background is difficult to break away from the short suppression, is expected to continue to maintain a weak concussion in the evening, continue to pay attention to long short position changes and market trading atmosphere.

(SMM Shanghai Nonferrous Xuman 021 5159 5898)

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
China's Lithium Battery Output to Surge 9% in September, Driven by Global Energy Storage Demand
3 hours ago
China's Lithium Battery Output to Surge 9% in September, Driven by Global Energy Storage Demand
Read More
China's Lithium Battery Output to Surge 9% in September, Driven by Global Energy Storage Demand
China's Lithium Battery Output to Surge 9% in September, Driven by Global Energy Storage Demand
According to multiple industry chain monthly survey data, September China lithium battery production schedules are expected to exceed 330 GWh, up approximately 9% MoM. Energy storage cells account for approximately 130 GWh, nearly 40% of the total. Energy storage growth mainly comes from overseas large-scale projects, with multiple energy storage stations in the Middle East, Europe and the US rushing to grid-connect before year-end. Overseas customers are concentratedly procuring 314Ah and above large-capacity energy storage cells, with leading battery makers' existing production lines fully booked through mid-October.
3 hours ago
September 2026 NEV Sales Surge 45.6% YoY, Market Share Nears 50%
3 hours ago
September 2026 NEV Sales Surge 45.6% YoY, Market Share Nears 50%
Read More
September 2026 NEV Sales Surge 45.6% YoY, Market Share Nears 50%
September 2026 NEV Sales Surge 45.6% YoY, Market Share Nears 50%
CAAM data shows September 2026 NEV production and sales reached 1.617 mn and 1.604 mn respectively, up 42.7% and 45.6% YoY. NEV share of total new vehicle sales reached 49.7%. Jan-Sep cumulative NEV production/sales reached approximately 12.6 mn, with market share approaching half. September NEV exports were 222,000 units, more than doubling YoY. CPCA data shows September domestic NEV passenger car retail was approximately 1.296 mn units, up 15.5% YoY, with monthly penetration reaching 57.8%, a new record high.
3 hours ago
Ruijin's $135M Aluminum Project Nears Completion, Set for November Launch
3 hours ago
Ruijin's $135M Aluminum Project Nears Completion, Set for November Launch
Read More
Ruijin's $135M Aluminum Project Nears Completion, Set for November Launch
Ruijin's $135M Aluminum Project Nears Completion, Set for November Launch
Ruijin New Materials Technology Co., Ltd.'s 150,000 t/yr aluminium plate/strip/foil project, which acquired land in April and started construction by end-April this year, has completed its No. 1 workshop. Internal equipment installation is in the final stage. Six holding furnaces and six melting furnaces have been installed, and rolling mill installation is underway. Furnace baking is planned for end-September, trial production around October 15, with formal commissioning expected in November. Total investment is approximately RMB 900 mn, with RMB 300 mn planned for this year.
3 hours ago