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[brief Review of Aluminum in SMM period] when the price difference between the next month is small, the main Shanghai aluminum company is dominated by long positions.
Apr 24,2020 18:58CST
translation
Source:SMM
When the price difference between the next month is small, the main company of Shanghai aluminum company is mainly to increase its position by long head in the next month.
The content below was translated by Tencent automatically for reference.

SMM, 24 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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