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[brief Review of Aluminum in SMM] strong spot superposition long position increase contract spread widened in recent months
Apr 22,2020 17:37CST
translation
Source:SMM
Spot strong superposition long position increase contract spread widened in recent months
The content below was translated by Tencent automatically for reference.

SMM, 22 April:

The 2006 contract of Shanghai Aluminum Company was opened at 12085 yuan / ton in the morning. At the beginning of the session, the bears increased their positions in a small amount, reaching the lowest level of 12045 yuan / ton in the day, and then the bulls continued to increase their positions, pushing the market up to 12245 yuan / ton, and closing at 12195 yuan / ton at the end of the session, up 90 yuan / ton, or 0.74%, from the previous day's close. Trading volume decreased by 21995 hands to 117000 hands, position increased by 868 hands to 128000 hands, mainly to increase positions, daily K line closed a small positive line. Strong spot within the day, East China in the month in the rising water 3050 yuan / ton, pushing up the Shanghai aluminum back structure in recent months further enlarged, as of today's close, Shanghai aluminum 2005-2006 contract price difference expanded to 85 yuan / ton. Near the end of a long month, the spot market liquidity is relatively tight, aluminum prices are expected to remain relatively strong in recent months, the lower position of 12000 yuan / ton can be supported. It is expected that tomorrow Shanghai aluminum company 2006 contract shock operation in 12000-12250 yuan / ton.

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