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[brief Review of Aluminum in SMM period] the trend of Shanghai Aluminum is entangled and the range is expected to remain weak in the evening.
Oct 25,2019 17:01CST
translation
Source:SMM
Shanghai aluminum trend entanglement expected to maintain weak volatility in the evening
The content below was translated by Tencent automatically for reference.

SMM, 25 Oct:

Shanghai aluminum main company 1912 contract opened at 13850 yuan / ton in the morning, the opening of the market, Shanghai aluminum recorded a long negative line, the decline of 13805 yuan / ton near, the first trading stage hovered in 13815 yuan / ton line, into the second trading interval short into duoping aluminum prices continue to explore, shock fell to 13775 yuan / ton day low, due to the short-term space below the limited, then the long short entry short positions, aluminum prices low return, Along the 5-day moving average climbed 13825 yuan / ton, closed at 13805 yuan / ton, down 10 yuan / ton, down 0.07%, trading volume reduced 7640 hands to 94144 hands, position reduced 2738 hands to 235000 hands, closed in the small negative line, back to give up all the gains yesterday, the daily K line is below the 20-day moving average, daily KDJ three-line aggregation seems to have a downward trend. Today, the trend of aluminum in Shanghai is tangled, in view of the fact that it is difficult to put heavy pressure on inventories to go to short positions, and the expectation of weaker forward consumption also makes it difficult for aluminum prices to break up substantially, it is expected to continue to maintain weak volatility in the range in the evening and continue to pay attention to long short positions and changes in the trading atmosphere in the market.

(Shanghai Nonferrous Network Yiliang 021-20707892)

Evening news

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