SMM, 18 October 2019:
Every other night, the Shanghai aluminum main company 1912 contract opened at 13845 yuan / ton, jumped onto all moving averages at the beginning of the day, and fluctuated narrowly in the first line of 13875 yuan / ton. During the period, twice the uplink was blocked by 13890 yuan / ton, closing at 13890 yuan / ton, up 55 yuan / ton, up 0.4%, the trading volume decreased by 43094 hands to 35542 hands, the position decreased by 2930 hands to 233000 hands, and the center of gravity was above the 5-day moving average, piercing the resistance of the upper 10-day moving average. However, the whole is still in the lower rail section of Brin channel, the daily MACD green line is shortened, and the third line of KDJ is facing up. The US index sank in the evening, most of the metal closed up, SMM statistics yesterday electrolytic aluminum social inventory fell more than 60, 000 tons, supply and demand macro factors jointly stimulated part of the early decline in aluminum prices, is expected to run between 13800-13950 yuan / ton today, spot water between 3070 yuan / ton.
Yesterday, Lun aluminum opened at $1726 / ton, the Asian session first lower $1722 / ton intraday low, briefly creeping and then began to test the rebound, all the way up slowly, and rose $1733 / ton overnight, because there is still some pressure above, and then slightly closed at $1728.5 / ton, closed at Sanlianyang, but the center of gravity of the daily K line is basically flat compared with previous days, trading volume is reduced by 1338 to 8063 hands. Positions were reduced by 6954 to 741000. In the evening, the dollar index fell back to a low of 97.476, recording three consecutive negative, most of the outer plate metal turned red, Lun aluminum was driven by the surrounding metal recorded a small rise, up 1 dollar / ton, up 0.06%, above the 10-day moving average, it is more difficult to break through the upper layers of resistance in the short term, it is expected to run between 1720 and 1740 US dollars / ton today.