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[SMM Aluminum Morning News] the shock uplink power of the Shanghai Aluminum main Company at night is slightly insufficient.
Oct 10,2019 09:02CST
translation
Source:Www.smm.cn
[SMM Aluminum Morning News] the shock uplink power of the Shanghai Aluminum main Company at night is slightly insufficient.
The content below was translated by Tencent automatically for reference.

SMM, 10 October 2019:

Every other night, the 1912 contract of Shanghai Aluminum Company was opened at 13900 yuan / ton, maintained at 13900-13920 yuan / ton at night, and the price spread was narrower. During the period, it briefly probed down 13895 yuan / ton and closed at 13900 yuan / ton. It closed at Cross Star, down 50 yuan / ton, down 0.36%, trading volume decreased by 56384 hands to 8506 hands, position increased by 962 hands to 202000 hands, closed at Cross Star, and the daily K line is still under pressure on all moving averages. The upstream power performance is insufficient, it is expected to run in the range of 13850-13950 yuan / ton today, and the rising water on the disk is expected to be in the range of 20-60 yuan / ton.

Yesterday, Lun aluminum opened at $1745 / ton, fell back in Asian trading, fell below all moving averages, and fell below all moving averages at the beginning of the European market. It then recovered some of its decline, but the uplink was finally blocked around $1748 / tonne. The last trading range fluctuated narrowly, closing at $1743.5 / tonne, trading volume was reduced by 1318 hands to 8261 hands, position volume was reduced by 204hand to 769000 hands, and closed in the small negative line, the end of the session hovered and fluctuated narrowly, closing at $1743.5 / tonne, trading volume was reduced by 1318 hands to 8261 hands, position volume was reduced by 204hand to 769000 hands, and closed at the small negative line. The center of gravity is basically flat compared with yesterday, is still below the 20 / 40 day moving average, the daily MACD green line continues to shorten, considering that the US index is still 99 high in the near future, the superimposed LME aluminum metal inventory has not returned the previous inventory increase of 20, 000 tons, and is expected to run in the range of US $17301760 / ton today.

(SMM Xueman)

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