Home / Metal News / Aluminium / [brief Review of Aluminum in SMM] the formation of strong fundamentals will support the steady rise of the main Company of Shanghai Aluminum in the near future.
[brief Review of Aluminum in SMM] the formation of strong fundamentals will support the steady rise of the main Company of Shanghai Aluminum in the near future.
Apr 28,2020 18:07CST
translation
Source:SMM
The formation of strong fundamentals supports the steady rise of the main company of Shanghai Aluminum in the coming day.
The content below was translated by Tencent automatically for reference.

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.

Evening news

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn