[brief comment on SMM Aluminum] Shanghai Aluminum still has its center of gravity below all moving averages today.

SMM, June 24 / PRNewswire-Asianet /-

The Shanghai Aluminum main Company 1908 contract opened at 13770 yuan / ton in the morning, briefly up 13810 yuan / ton, but the upper pressure was obvious, then fell back to the intraday low of 13760 yuan / ton, hovered around 13795 yuan / ton in the afternoon to maintain a narrow concussion, began to float above the daily average in the afternoon, climbed higher along the 5-day moving average, reached an intraday high of 13845 yuan / ton along the way, and softened slightly in late trading, closing at 13830 yuan / ton, down 5 yuan / ton. Trading volume fell 28974 hands to 123000 hands, positions fell 2448 hands to 266000 hands, and the daily K line closed at the Xiaoyang line, but the overall center of gravity remained below all averages. Today's release of electrolytic aluminum inventory data, the decline is narrower than last week, while taking into account the cost and consumption side of the lack of new bullish news, Shanghai aluminum is expected to remain below the Wansi pass in the evening, pay attention to long short positions and market atmosphere changes.

(SMM Shanghai Nonferrous Xuman 021 5159 5898)