[brief Review of Aluminum in SMM] Lun Aluminum was boosted by Shanghai Aluminum and stopped falling in Shanghai Aluminum Company to close at a new high in the near future.

Published: Apr 16, 2020 17:59 (GMT+8)
Lun Aluminium was boosted by Shanghai Aluminum to stop falling. Shanghai Aluminum Company closed at a new high in the near future.

SMM, 16 April:

The 2006 contract of Shanghai Aluminum Company was opened at 11915 yuan / ton in the morning. After the opening of the market, short risk aversion and reduction, the disk steadily set foot on the ten thousand two levels and continued to rise, closing at 12085 yuan / ton, up 135 yuan / ton from the previous day's close, up 1.13%. The trading volume was reduced by 673 to 107000 hands, and the unilateral short position was reduced by 3036 to 136000 hands. The Japanese K line closed at a Zhongyang line, the highest level since March 20. Short-term fundamentals of domestic trade repair logic gradually realized, superimposed macro liquidity loose, Shanghai aluminum borrow low rebound, need to pay attention to the sustainability of the rebound, the short term should not be too bearish. It is expected that tomorrow Shanghai aluminum company 2006 contract shock operation in 12000-12150 yuan / ton.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Domestic Aluminum Ingot Accumulation After National Day Holiday Expected to Be Moderate and Controllable
18 hours ago
Domestic Aluminum Ingot Accumulation After National Day Holiday Expected to Be Moderate and Controllable
Read More
Domestic Aluminum Ingot Accumulation After National Day Holiday Expected to Be Moderate and Controllable
Domestic Aluminum Ingot Accumulation After National Day Holiday Expected to Be Moderate and Controllable
head of the National Day holiday, domestic aluminum ingot inventories continued to set fresh year-to-date lows. According to SMM statistics, as of September 30, electrolytic aluminum ingot inventories in China's major consuming regions stood at 638,000 mt, down 36,000 mt from Monday and 40,000 mt from last Thursday. The pace of pre-holiday destocking was relatively fast overall, leaving ample buffer for inventory accumulation during the holiday...
18 hours ago
China's Petroleum Coke Imports Surge in August 2026, US Dominates Market
18 hours ago
China's Petroleum Coke Imports Surge in August 2026, US Dominates Market
Read More
China's Petroleum Coke Imports Surge in August 2026, US Dominates Market
China's Petroleum Coke Imports Surge in August 2026, US Dominates Market
Looking ahead, the boost to imports from stockpiling in advance for the September-October peak season has already materialized, and with rising freight costs and recovering domestic supply, imports are expected to pull back in September-October.
18 hours ago
South China A00 Aluminum Ingot Premium Expected to Ease from Highs After National Day Holiday
18 hours ago
South China A00 Aluminum Ingot Premium Expected to Ease from Highs After National Day Holiday
Read More
South China A00 Aluminum Ingot Premium Expected to Ease from Highs After National Day Holiday
South China A00 Aluminum Ingot Premium Expected to Ease from Highs After National Day Holiday
In the final three trading days before the National Day holiday, the South China spot market stayed soft: aluminum prices continued to edge lower, the SHFE aluminum backwardation structure strengthened, and premiums over the next-month and far-month contracts were actually elevated. Ahead of the holiday, the willingness to cash out at the high basis was strong, and amid ongoing destocking, discount-priced cargoes still dominated spot circulation;...
18 hours ago
[brief Review of Aluminum in SMM] Lun Aluminum was boosted by Shanghai Aluminum and stopped falling in Shanghai Aluminum Company to close at a new high in the near future. - Shanghai Metals Market (SMM)