[brief comment on SMM Aluminum] Shanghai Aluminum fell back to close at Xiaoyin Line.

SMM, July 26 / PRNewswire-Asianet /-

The Shanghai Aluminum main Company 1909 contract opened at 13910 yuan / ton in the morning. In the first trading stage, the bullion increased its position and pushed up the aluminum price by 13950 yuan / ton within a day. Due to the greater pressure above, the long profit closing position in the second trading stage left the market. The aluminum price fell all the way down to around 13880 yuan / ton. It sank at the end of the day, closing at the lowest 13875 yuan / ton in the day, up 30 yuan / ton, up 0.22%, and the trading volume was reduced by 3556 hands to 121000 hands. Position increased 104 hands to 245000 hands, closed at the small shade line, daily MACD line elongated. Shanghai aluminum fundamentals are still weak this week, is expected to maintain range fluctuations next week, the upper space is limited, focus on the results of the 12th round of Sino-US economic and trade negotiations next week.

(Shanghai Nonferrous Network Yi Liang 021 20707892)