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[brief Review of Aluminum in SMM period] short bears took the initiative to record Dayin in Shanghai Aluminum Co., Ltd.
Oct 11,2019 18:39CST
translation
Source:SMM
Short bears took the initiative to record Dayin in Shanghai aluminum.
The content below was translated by Tencent automatically for reference.

SMM, 11 Oct:

Shanghai aluminum main force 1911 contract opened in the morning at 13875 yuan / ton. After the opening of a small number of short admission, Shanghai aluminum broke through the 5-day moving average high touch 13910 yuan / ton. After being quickly suppressed by short entry, Shanghai aluminum entered the downward mode, quickly fell below the 5-day moving average, Shanghai aluminum accelerated downlink in the afternoon, the low once hit 13600 yuan / ton. The end of the session closed at 13760 yuan / ton. The position increased by 1872 to 190108, and the Shanghai Aluminum Index increased by 1026 to 684334. It is expected that the main force of Shanghai Aluminum will be changed into the 1912 contract in the evening, and the trend of Shanghai Aluminum fundamentals has changed from strong to weak, but under the risk of negotiations between China and the United States next week, some short sellers may temporarily leave the market and wait and see. At the same time, consumption at this stage may still make it possible to continue to go to the warehouse. Therefore, it is expected that Shanghai Aluminum will remain weak and fluctuate next week, with its center of gravity slightly moving down, with an operating range of 13650 yuan / ton.

(Shanghai Nonferrous Network Yiliang 021-20707892)

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