SMM, 14 May:

The Shanghai aluminum main force 2007 contract opened in the morning at 12435 yuan / ton, the first trading stage first raised and then suppressed, the opening first slightly explored 12475 yuan / ton and then fell back to the intraday low of 12410 yuan / ton. after the opening of the second trading stage, aluminum prices rebounded and fluctuated upward, hitting a daily high of 12575 yuan / ton in late trading. Near the close, due to some long positions, it softened to 12515 yuan / ton, and closed at 12530 yuan / ton, up 145 yuan / ton. Up 1.13%, trading volume decreased by 32654 hands to 86524 hands, position increased by 83 hands to 150000 hands, closed at the small positive line, the center of gravity rose from yesterday, but began to break through the upper 60-day moving average signs. Macroscopically, because tomorrow is the implementation day of the second wave of reduction by the central bank, the market atmosphere is expected to be more relaxed, coupled with the delivery of contracts tomorrow, aluminum prices are expected to be on the strong side, and the contract spread between the current month and the far month may be further widened. (SMM Xuman 021-51595898)