[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 to learn 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
Geopolitical Tensions Disrupt LPG, Natural Gas Supply to India, Impacting Aluminum Production
5 hours ago
Geopolitical Tensions Disrupt LPG, Natural Gas Supply to India, Impacting Aluminum Production
Read More
Geopolitical Tensions Disrupt LPG, Natural Gas Supply to India, Impacting Aluminum Production
Geopolitical Tensions Disrupt LPG, Natural Gas Supply to India, Impacting Aluminum Production
[SMM Aluminum Express News] Geopolitical tensions in West Asia have disrupted energy flows through the Strait of Hormuz, tightening LPG and natural gas supply to India. With gas diverted to households, according to the Aluminium Extrusion Manufacturers Association of India industrial supply has been cut by 50–80%, severely impacting energy-intensive aluminum extrusion. Around 25 plants have been shut down while ~200 operate at reduced rates, dragging monthly output from ~70,000 mt to ~45,000 mt. The supply-driven disruption is tightening downstream availability and supporting aluminum product premiums.
5 hours ago
SHFE Cast Aluminum Alloy Warrants Drop to 44,991 mt, Down 2,741 mt from Previous Day
6 hours ago
SHFE Cast Aluminum Alloy Warrants Drop to 44,991 mt, Down 2,741 mt from Previous Day
Read More
SHFE Cast Aluminum Alloy Warrants Drop to 44,991 mt, Down 2,741 mt from Previous Day
SHFE Cast Aluminum Alloy Warrants Drop to 44,991 mt, Down 2,741 mt from Previous Day
[SMM Flash News] SHFE data showed that as of March 23, the total registered volume of cast aluminum alloy warrants was 44,991 mt, down 2,741 mt from the previous trading day. By region, the total registered volume was Shanghai (3,177 mt, down 515 mt), Guangdong (17,467 mt, down 453 mt), Jiangsu (5,022 mt, down 453 mt), Zhejiang (14,155 mt, down 1,079 mt), Chongqing (3,843 mt, down 91 mt), and Sichuan (1,327 mt, down 150 mt). The English translation of the above text is:
6 hours ago
Secondary Aluminum Alloy ADC12 Market Weakens, Prices Drop by 200-400 Yuan/mt Amid Bearish Sentiment
6 hours ago
Secondary Aluminum Alloy ADC12 Market Weakens, Prices Drop by 200-400 Yuan/mt Amid Bearish Sentiment
Read More
Secondary Aluminum Alloy ADC12 Market Weakens, Prices Drop by 200-400 Yuan/mt Amid Bearish Sentiment
Secondary Aluminum Alloy ADC12 Market Weakens, Prices Drop by 200-400 Yuan/mt Amid Bearish Sentiment
[SMM Daily Review of Aluminum Alloy] The secondary aluminum alloy ADC12 market continued to weaken today, with mainstream enterprises generally cutting offers by 200–400 yuan/mt. The weaker prices were mainly dragged down by larger declines in aluminum prices and futures, with the cost center moving lower in tandem. In addition, some enterprises had shown relatively strong bullish sentiment earlier and lagged in the pace of price adjustments, leading to a catch-up decline in the market today. In terms of market sentiment, secondary aluminum enterprises turned cautious and bearish on the short-term aluminum price trend, focusing mainly on active shipments. Demand side, support remained weak, downstream procurement was maintained only for rigid demand, wait-and-see sentiment was strong, and
6 hours ago
[brief comment on SMM Aluminum] Shanghai Aluminum opened in the cross star opening trend is not strong, weak shock in the day. - Shanghai Metals Market (SMM)