[SMM Aluminium Morning News] overnight, the US Index recovers from the trend of aluminum prices in the inner and outer plates under pressure.

SMM, 23 October 2019:

Every other night, the Shanghai aluminum main company 1912 contract opened as low as 13780 yuan / ton, rising 13815 yuan / ton at the beginning of the session, but the upward power was insufficient, and then the high level fell back to around 13780 yuan / ton, and around 13780 yuan / ton a narrow range of concussion, closed at 13950 yuan / ton, the trading volume decreased 24460 hands to 35796 hands, the position increased 6498 hands to 196000 hands, closed in the small negative line, the upper pressure on all averages, up 10 yuan / ton, the end of the market closed at 13950 yuan / ton, the volume decreased 24460 hands to 35796 hands, the position increased 6498 hands to 196000 hands, closed in the small negative line, the upper pressure on all averages, up 10 yuan / ton. Up 0.07%. Yesterday, the trend of aluminum prices is relatively tangled, weak upward, constantly testing the size of the space below, hovering in the 13800 yuan / ton level, it is expected that the support force at this level is weak, today or run between 13740-13840 yuan / ton, spot to the current month surface rising water concentrated in 50-110 yuan / ton.

Overnight aluminum opened at $1736 / ton in the morning. During the Asian trading session, it fell all the way down to around $1727.5 / tonne. Although it rebounded after entering the European market, it rose to around $1745 / tonne. After rising to around $1745 / tonne, it fluctuated again. Many times, in the last session, it fell $1716 / tonne, closed at $1719 / tonne, down $5 / tonne, or 0.29%, recording a second consecutive negative, and the center of gravity sank again. Below all EMA, the daily KDJ fell back. Overnight, the United States index rebounded, most of the outer plate metal under pressure, Lun aluminum weak posture under the setback, it is expected that there will be a significant upward trend within the day, or run between 1705-1730 US dollars / ton.

(SMM Xueman)