[brief comment on SMM Aluminum] Shanghai Aluminum shock repair part of the decline waiting for the Market to verify the weakening of consumption

SMM, July 3 / PRNewswire-Asianet /-

Shanghai Aluminum main contract 1907 opened in the morning at 13640 yuan / ton. After the opening of the Shanghai aluminum to maintain a weak shock, low touched 13620 yuan / ton. Low led to a long increase in positions, before noon Shanghai aluminum shock upward high touch 13670 yuan / ton. After Shanghai aluminum maintained a narrow range of concussion, closing at 13650 yuan / ton at the end of the day. Shanghai aluminum main position increased by 888 hands to 236534 hands, mainly for the multi-head low position to increase the position. Shanghai Aluminum Index positions fell 4832 hands to 694222 hands, mainly for short profits to close positions. After the weakening of consumer expectations in the third quarter and the concentrated release of sentiment, the market is still concerned about and waiting for the actual consumption to verify the expectations. Shanghai aluminum is expected to continue to maintain a narrow range of shocks in the evening, but also need to pay attention to tomorrow's social aluminum ingot inventory decline, the decline is still flat Shanghai aluminum still maintain a weak shock.

(SMM Yi Liang 021 20707892)