Home / Metal News / Aluminium / [brief Review of Aluminum in SMM] after the concentrated release of short emotion, the consumption is stable to help Shanghai Aluminum to receive Yang.
[brief Review of Aluminum in SMM] after the concentrated release of short emotion, the consumption is stable to help Shanghai Aluminum to receive Yang.
Oct 16,2019 16:43CST
translation
Source:SMM
The concentrated release of short emotion helps Shanghai Aluminum to collect Yang smoothly after consumption
The content below was translated by Tencent automatically for reference.

SMM, 16 October:

The Shanghai aluminum main contract was opened at 13785 yuan / ton in the morning of 1912. After the opening of the Shanghai aluminum low touched 13770 yuan / ton, the low led to a long entrance, after the Shanghai aluminum as a whole to maintain shock upward. Before noon, the short attempt at the 5-day moving average was unsuccessful and fled quickly. Shanghai aluminum broke through the 5-day moving average, short relatively cautious, at the end of the day high again tried to sniper, lost again after leaving the field, Shanghai aluminum high touch 13840 yuan / ton, closed at 13855 yuan / ton. Positions increased by 13652 hands to 237442 hands, Shanghai aluminum index positions increased by 6778 hands to 666992 hands, mainly long positions. After the continuous negative fall, the market short sentiment was released, considering that the current consumption month-on-month ratio is still relatively stable, the return of electrolytic aluminum did not meet expectations, the probability of going to the warehouse continued, Shanghai aluminum recorded a certain rebound. But at the same time, the long-term electrolytic aluminum cost downward, supply increase and consumption sustainability of the unpredictable Shanghai aluminum rebound height is relatively limited, more will maintain the center of gravity down after the interval shock. It is recommended to add short-line band operation.

(Shanghai Nonferrous Network Yiliang 021-20707892)

Evening news

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn