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[brief Review of Aluminum in SMM] weak Export orders from April to May Shanghai Aluminum still needs to boost confidence by landing policy
Apr 1,2020 17:56CST
translation
Source:SMM
Weak export orders in April-May Shanghai aluminum still needs landing policy to boost confidence
The content below was translated by Tencent automatically for reference.

SMM, April 1-

Today, the main force of Shanghai Aluminum was replaced by the 2006 contract. In the morning, the main force of Shanghai aluminum is opened at 11570 yuan / ton. After the opening of the long position, Shanghai aluminum up over the 5-day moving average high touch 11655 yuan / ton 10-day moving average, after the high led to short positions, Shanghai aluminum quickly fell back, and in the afternoon to maintain the 5-day moving average near the interval shock. Shanghai aluminum dived in the afternoon, and maintained a relatively low shock, Shanghai aluminum continued to weaken at the end of the day, the low once hit 11425 yuan / ton, closed at 11445 yuan / ton. The position increased by 12191 to 133318, and the Shanghai Aluminum Index increased by 3482 to 463444. According to SMM statistics, unwrought aluminum and aluminum, aluminum products, other aluminum terminal exports account for about 24% of the total domestic consumption, the current overseas epidemic continues, aluminum price workers downstream generally expressed concern about export orders from April to May. At present, only cables, building materials and other sectors account for a relatively low proportion of exports, and there are expectations for domestic infrastructure investment, and are relatively optimistic about orders from April to May. Overall, the top of Shanghai Aluminum is still under pressure, still need to wait for the overseas epidemic to be brought under control or domestic consumption stimulus policies to fall to the ground.

(Shanghai Nonferrous Network Yi Liang)

 

 

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