[brief comment on SMM Aluminum] instead of increasing the inventory of social aluminum ingots, the stock of aluminum ingots in Shanghai has been recorded in Dayang.

Published: Jul 25, 2019 17:06

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Instead of increasing the inventory of social aluminum ingots, the inventory of social aluminum ingots in Shanghai and Shanghai recorded a record of Dayang instead of increasing the inventory of social aluminum ingots.

SMM, July 25 / PRNewswire-Asianet /-

Shanghai Aluminum main 1909 contract opened at 13795 yuan / ton. After the opening of the market, the low level touched 13790 yuan / ton after the bulls took the initiative to increase their positions, and Shanghai Aluminum quickly broke through the 20-day moving average, followed by a decline in the release of social aluminum ingot inventory, giving bulls confidence to continue to raise aluminum prices to break through the daily average on 5-10-40. Short positions fled at the end of the day. Shanghai aluminum high touched 13895 yuan / ton, closed at 13890 yuan / ton. Positions increased by 9300 to 244892, while Shanghai Aluminum Index increased by 13494 to 685362. The unexpected decline in social aluminum ingot stocks exceeded previous expectations of weaker consumption downstream, bulls confidence rose, Shanghai aluminum also recorded Dayang.

(SMM Yi Liang 021 20707892)

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