SMM, 8 May:
The Shanghai aluminum main force 2007 contract opened at 12440 yuan / ton in the morning, hovering around the 12425 yuan / ton line at the beginning of the day, and then increased its position by more than 2, 700 hands within 15 minutes, pushing down the high aluminum price. The low level reached 12320 yuan / ton, refreshed its low for more than a week, hit 12320 yuan / ton low again after struggling unsuccessfully at the low position, began to climb in the afternoon, rose 12455 yuan / ton at the end of the day, and ended up at 12430 yuan / ton, down 30 yuan / ton. Down 0.24%, closed in the small negative line, position increased by 12536 hands to 143000 hands, short positions increased mainly, trading volume increased by 24594 hands to 105000 hands, daily KDJ third line down, daily MACD red line shortened. Due to the weakening expectation of consumption, the upstream space is expected to be limited at night, and we will continue to pay attention to the resistance of the 60-day moving average above. (SMM Xuman 021-51595898)
