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[brief comment on Aluminum in SMM period] the performance of Aluminium in Shanghai is more resistant to decline when consumption becomes lighter and Colored.
Jul 2,2019 18:17CST
translation
Source:SMM
The performance of Shanghai Aluminum is more resistant to decline when consumption becomes lighter and Nonferrous Metal falls in Shanghai.
The content below was translated by Tencent automatically for reference.

SMM, July 2 / PRNewswire-Asianet /-

Shanghai Aluminum main contract 1908 opened in the morning at 13660 yuan / ton. After the opening of Shanghai aluminum continued the previous day weak, short a small increase in Shanghai aluminum shock operation low hit 13630 yuan / ton. The low position led to the closing of short positions, and Shanghai aluminum concussion closed at 13710 yuan / ton. Positions fell 6336 hands to 238816 hands, while Shanghai Aluminum Index positions fell 1452 hands to 697416 hands. In the third quarter, in addition to lead, non-ferrous downstream demand weakened, Shanghai aluminum because there is still a certain consumption support decline is relatively small, but Shanghai aluminum is still in a weak shock trend is still unchanged, still need to pay attention to market consumption for the expected further verification, in the social aluminum ingot inventory is still declining, it is difficult to decline smoothly. Shanghai aluminum shock is expected to explore the bottom support in the evening, the short-term target level of 13500.

(Shanghai Nonferrous Network Yi Liang 021 20707892)

Evening news

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