SMM, 24 October:

The Shanghai aluminum main company 1912 contract opened at 13815 yuan / ton in the morning, the first trading stage remained at 13835 yuan / ton first line hovering, the second trading stage part of the long reduced positions left the market, aluminum prices fell back, fell all the moving average hit 13800 yuan / ton intraday low point, because the gate still has a certain support level, tail low rebounded, closed at 13825 yuan / ton, up 40 yuan / ton, up 0.29%, trading volume increased 41996 hands to 102000 hands, the end of the day low level, closed at 13825 yuan / ton, up 40 yuan / ton, up 0.29%, trading volume increased 41996 hands to 102000 hands. Position reduced by 858 hands to 237000 hands, closed in the small yang line, recorded three Lianyang, daily MACD green line shortened. Shanghai aluminum within the day to maintain range volatility, in the inventory continued to decline, strong spot background, low short confidence is insufficient, but due to the above pressure on 20-40-60 daily average, it is expected to maintain a weak range shock in the short term, continue to pay attention to long short market changes and market trading atmosphere changes in the evening.

(Shanghai Nonferrous Network Yiliang 021-20707892)