Home / Metal News / Aluminium / [brief comment on Aluminum in SMM stage] Macro atmosphere improved and the whole line of metals closed up in Shanghai and recorded two Lianyang in Shanghai.
[brief comment on Aluminum in SMM stage] Macro atmosphere improved and the whole line of metals closed up in Shanghai and recorded two Lianyang in Shanghai.
Jun 19,2019 16:51CST
translation
Source:SMM
The macro atmosphere improved and the metal closed up in Shanghai and recorded Erlianyang.
The content below was translated by Tencent automatically for reference.

SMM, June 19 / PRNewswire-Asianet /-

The 1908 contract of Shanghai Aluminum Company opened at 13880 yuan / ton in the morning. At the beginning of the day, some short positions pushed down the aluminum price to 13855 yuan / ton, and then nearly 4, 000 hands took advantage of the low position to push up the aluminum price to a daily high of 13890 yuan / ton, but the upper pressure was obvious. After concussion near the daily average, Shanghai Aluminum fell straight to the lowest point in 13825 yuan / ton day. It floated up and closed at 13865 yuan / ton at the end of the day, up 70 yuan / ton, an increase of 0.51%. Position increased by 2810 hands to 257000 hands, trading volume increased by 45262 hands to 147000 hands, closed at Erlianyang today, above hit the 5-day moving average, daily KDJ three-line convergence upward, MACD green line shortened. In Japan, due to the exchange of phone calls between the leaders of China and the United States, the macro mood moderated, the internal metal fluttered almost all the way red, and Shanghai Aluminum also closed higher, but considering that the macro news is a short-term stimulus, if digested by the market, the operation logic of aluminum prices will return to fundamentals. At that time, we still need to pay attention to the supply and demand side of aluminum ingots, and it is recommended that bulls be cautious.

(SMM Shanghai Nonferrous Xuman 021 5159 5898)

Evening news

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn