Home / Metal News / Aluminium / [SMM aluminum morning news] overnight outer plate metal only aluminum alone down horizontal plate for a long time upward pressure is greater
[SMM aluminum morning news] overnight outer plate metal only aluminum alone down horizontal plate for a long time upward pressure is greater
Oct 25,2019 09:08CST
translation
Source:Www.smm.cn
[SMM aluminum morning news] overnight outer plate metal only aluminum alone down horizontal plate for a long time upward pressure is greater
The content below was translated by Tencent automatically for reference.

SMM, 25 October 2019:

Every other night, the Shanghai Aluminum Company 1912 was about 13825 yuan / ton, hovering at the beginning of the day at the beginning of the day hovering at 13810 yuan / ton. Then, along the 5-day moving average, it began to climb higher, all the way up to 13875 yuan / ton within the day. Because there is still some pressure at the top to continue the lack of upward power, the tail soft closed at 13850 yuan / ton, the trading volume decreased by 67002 hands to 34782 hands, the position increased by 1770 hands to 239000 hands, and four consecutive suns were recorded on the small yang line. The center of gravity jumped to the 5 / 10 moving average, the daily KDJ third line up, the MACD green line turned red, up 35 yuan / ton, up 0.25%. Overnight macro atmosphere improved, the inner plate metal floating red, Shanghai aluminum operation range is expected to be 13750-13900 yuan / ton, rising water between 70110 yuan / ton.

Overnight aluminum opened at $1729.5 / ton, the spread between high and low prices in the Asian range was less than $7 / ton, and the high stopped at $1730 / ton. The European trading session maintained a narrow range of fluctuations, as there was no obvious upward breakthrough in long-term horizontal trading. During the night, the direction began to fall, all the way down to a daily low of $1717 / ton, closing at $1717 / ton, down $9.50 / ton, or 0.55%. Trading volume decreased by 2566 hands to 5280 hands. Position increased by 306 hands to 746000 hands, closed in the small negative line, giving up all the gains the day before yesterday. Overnight US durable goods order index is not good, but the US index rebounded in the case of sterling euro decline, most of the outer plate metal turned red, but aluminum alone fell, and from the disk can be seen from the plate has been horizontal plate for nearly two weeks, can be seen savings certain downward pressure, is expected to run between 1710-1740 US dollars / ton today.

 

(SMM Xueman)

Morning 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