SMM, May 16:
Overnight, the Shanghai aluminum main force 2007 contract opened at 12515 yuan / ton, which fell slightly at night, but remained stable at 12400 yuan / ton. The increase in positions in the morning reached 12600 yuan / ton, and closed up at 12530 yuan / ton in late trading, up 0.28%. Trading volume decreased to 86000 hands, position volume increased to 150000 hands. The diurnal line ends in the shadow, the lower support is stable, but the space to continue to go higher is also limited. After the import window opens, the long-term supply increment is expected to improve, the near strong and far weak situation is maintained, and the monthly difference is likely to continue to expand, the main operating range is expected to be 12300-12600 yuan / ton today.
Overnight aluminum opened at $1475.5 / ton, the Asian session rose slightly, the high broke $1480 / ton, the European session turned down, the low fell below $1470 / ton, a new five-week low, the U. S. session rebounded to smooth the decline, the end of the session closed at $1476.0 / ton, down 0%, trading volume to 11000 hands, position volume to 851000 hands. Overseas economic downturn continues, trade frictions are not conducive to economic recovery, Lun aluminum lack of momentum, is expected to run in the range of $14601500 / ton.
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