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[brief comment on Aluminum in SMM period] inventory increase lacks basic support funds to leave Shanghai Aluminum to fall back
Jul 12,2019 18:40CST
translation
Source:SMM
Inventory increase lacks fundamentals to support funds leaving Shanghai Aluminum to fall back
The content below was translated by Tencent automatically for reference.

SMM, July 12 / PRNewswire-Asianet /-

The 1908 contract of Shanghai Aluminum Company is opened at 13755 yuan per ton. After the opening of the long active draw out of the market, Shanghai aluminum fell low touched 13730 yuan / ton, fell below the 20-day moving average, and then maintained a narrow range of concussion. Short left the market in the afternoon, Shanghai aluminum shock rose to the 20-day moving average, closed at 13770 yuan / ton. Positions fell 4962 hands to 201484 hands, while Shanghai Aluminum Index positions fell 9726 hands to 666706 hands. Shanghai aluminum is expected to remain weak and volatile next week, alert to the short-term boost from a positive macro.

(Shanghai Nonferrous Network Yi Liang 021 20707892)

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