[SMM Aluminium Morning News] Shanghai Aluminium continues to fall back to the holiday closure of Lun Aluminium Bank.

Published: May 11, 2020 08:58

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Shanghai Aluminium continues to fall back on the Holiday closure of Lun Aluminum Bank

SMM, 11 May:

On Friday, the Shanghai aluminum main force 2007 contract opened slightly higher at 12510 yuan / ton, the air side took the initiative to increase positions, the futures price immediately fell to 12400 yuan / ton, morning low price close to 12300 yuan / ton, rebounded in the afternoon, the last trading volume fell slightly to 12430 yuan / ton, down 0.24%, trading volume to 105000 hands, position volume to 143000 hands. Day line Xiaoyin, the center of gravity continues to move down, the last period of aluminum stocks fell below 400000 tons, warehouse receipts reduced to less than 180000 tons, the fundamentals are relatively strong. In recent months, the contract monthly difference once expanded to 200 yuan / ton, facing delivery within the week, the spot rising water situation does not change, the main force is expected to run in the 12300-12600 yuan / ton range.

The Bank of England holiday LME was closed last Friday (May 8).

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