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[brief Review of Aluminum in SMM] News stimulates strong superimposed demand and Shanghai Aluminum Company ends up in the next few days
Apr 27,2020 18:08CST
translation
Source:SMM
News stimulates strong superimposed demand, Shanghai aluminum main company closes up in the next few days.
The content below was translated by Tencent automatically for reference.

SMM, 27 April:

On Monday, the 2006 contract of the Shanghai Aluminum Company opened at 12420 yuan per ton in the morning. After the opening of the session, the disk quickly drilled down to the lowest level of 12335 yuan / ton in the day, and then the bulls increased their positions one after another, repaired the initial decline in the session, reduced the short positions at the end of the session by more than 2000 hands, and the price rose slightly again to a high level of 12440 yuan / ton, closing at 12410 yuan / ton, up 125 yuan / ton from the previous day's close, up 1.02%, the trading volume increased by 7962 hands to 82017 hands, and the long unilateral position increased by 1306 hands to 125000 hands. The main reason is to increase the position of multi-head. Within days, Yunnan and Gansu commercial storage news continued to stimulate the market, but still need to continue to pay attention to the actual strength, in addition to the fundamentals, SMM statistics of domestic electrolytic aluminum social inventory fell another 76000 tons to 1.283 million tons compared with the previous Thursday, the storage cycle stably continued, the disk also formed a strong support, the demand side is expected to remain strong, tomorrow Shanghai aluminum main shock is expected to run at 12150,012,500 yuan / ton.

Evening news

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