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[SMM Aluminum Morning News] Shanghai Aluminum rose slightly on Friday, mainly by long positions.
Apr 13,2020 09:26CST
The slight rise of aluminum in Shanghai on Friday was dominated by a long increase in warehouses.
The content below was translated by Tencent automatically for reference.

SMM, 13 April:

On Friday, the 2006 contract of the Shanghai Aluminum Company opened at 11665 yuan per ton in the morning. Boosted by the optimistic results of overnight crude oil negotiations, Shanghai aluminum rose at the start of trading, mostly flat, closing at 11845 yuan / ton, up 190 yuan / ton from the previous day's close, up 1.63%. The volume of positions increased by 225 hands to 138000 hands, and the trading volume increased by 15184 hands to 87611 hands, mainly by bulls. Daily K line close six Lianyang, the top try to touch the 20-day moving average. Aluminum downstream domestic trade demand slowly improved, superimposed macro news benefit more sentiment, short-term Shanghai aluminum disk performance rose slightly. Continuous attention should be paid to the release of macroscopic news and changes in the demand side of electrolytic aluminum. It is expected that the 2006 contract range of Shanghai Aluminum Company will fluctuate in the range of 11700-11850 yuan / ton, and the spot pair will be near 20 to Pingshui that month.

Lunal Aluminium was closed on Friday for the crucifixion Day and closed today for the Easter holiday.

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