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[SMM Aluminum Morning News] Hulun Aluminum slightly boosted to a recent high
Apr 15,2020 09:51CST
Hulun aluminum slightly boosted to a recent high
The content below was translated by Tencent automatically for reference.

SMM, 15 April:

On Tuesday, the 2006 contract of the Shanghai Aluminum Company opened at 11760 yuan per ton in the morning. Before noon, the market performance first raised and then suppressed, rushed to 11815 yuan / ton after the long high position reduction, the disk slightly fell back; in the afternoon narrow fluctuations, closed at 11770 yuan / ton, slightly up 15 yuan / ton, up 0.13%. The rise in crude oil continued to boost nonferrous oil during the day, but the rise in Shanghai aluminum must be weak, difficult to break away from the 5 / 10 moving average. Trading volume decreased by 204699 hands to 53035 hands, long unilateral position increased by 308 hands to 142000 hands, mainly long positions. Near delivery, the contract structure hovered in recent months, and the long short show hesitation. We need to keep an eye on the macro news to boost the aluminum disk and the changes in supply and demand of the fundamentals. It is expected that the operating range of the main aluminum company in Shanghai today is 11600-11850 yuan / ton, and the spot pair is in the range of 10 yuan / ton to 10 yuan / ton that month.

Aluminum opened slightly higher at $1490.5 a tonne on Tuesday. After the opening of the market, Lun aluminum fluctuated upward, touching the day's highest level of $1510 / ton after the performance of the decline; entering the European trading session, Lun aluminum first suppressed and then rose, the increase continued until the end of the night, closed at $1515 / ton, up 31 dollars / ton, up 2.09%, mainly short positions.

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