SMM, 28 October:
Shanghai aluminum company 1912 contract opened in the morning at 13850 yuan / ton, down 13810 yuan / ton at the beginning of the session, then rebounded low, around 13825 yuan / ton wide shock, closed at 13825 yuan / ton. Intra-day aluminum prices fluctuated in the performance range, during the period of two downturns stopped at 13810 yuan / ton, closed at the small positive line, the top pressure 20 moving average, position increased by 260 to 235000 hands, trading volume decreased by 5460 to 88684 hands, daily KDJ three-line polymerization, MACD red line elongated. Although the market expectations for forward consumption are weak, short-term spot strength suppresses short-term confidence, aluminum prices are difficult to fall back quickly, and it is expected to continue to maintain interval volatility in the evening, try to explore the strength of 13800 yuan / ton gate support, and continue to pay attention to the change of long short positions and the pace of new production capacity of aluminum plants.
(Xuman 021-20707892, SMM)
