SMM, 28 April:
On Tuesday, the Shanghai aluminum main company 2006 contract opened in the morning at 12370 yuan / ton, after the opening of the long continuous increase in positions, the market steadily rose to 12510 yuan / ton, followed by a brief correction, tail short hedge positions, closed at 12485 yuan / ton, up 75 yuan / ton, up 0.6%, trading volume increased 6961 hands to 88978 hands, position reduced 1269 hands to 124000 hands, mainly short positions. The Japanese K line receives a large positive line. Intra-day basic metal but aluminum alone red, fundamental demand to form a strong support, spot rising water before the festival still maintained a high level, Guangdong and Shanghai prices around 260 yuan / ton. Today, the main Shanghai aluminum company has broken 12500 yuan / ton resistance level, is expected to try to stand on this position tomorrow, the operating range of 12300-12600yuan / ton. Continuous attention needs to be paid to the impact of downstream reserve actions on the demand side.
