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[SMM aluminum brief review] the near-and far-monthly price difference widens to more than 300yuan / ton. Pay attention to the resistance at the Wansan pass above the main force.
May 18,2020 17:55CST
translation
Source:SMM
The near and far monthly price difference widens to more than 300 yuan / ton. Pay attention to the resistance at the Wansan pass above the main force.
The content below was translated by Tencent automatically for reference.

SMM, May 18:

Shanghai Aluminum's main 2007 contract opened at 12585 yuan / ton in the morning. At the start of trading, it broke free from the shackles of the moving average all the way up, explored a daily high of 12830 yuan / ton in the afternoon, refreshed its new high for more than two months, and sank in late trading. It closed at 12760 yuan / ton, up 200 yuan / ton, or 1.59%. The trading volume increased by 44661 to 137000, and the position increased by 5794 to 160000, closing at Xiaoyang Line, recording four Lianyang. The center of gravity jumps above all moving averages. The contract rose brightly in today's month, with the 06mur07 spread widening to 315 yuan / ton from around 250 yuan / ton yesterday. Short positions in the contract of that month are mainly reduced today. It is expected that it will be difficult for the price spread to quickly narrow to less than 200 yuan / ton in the near future. Continue to pay attention to the recent changes in contract positions and market trading atmosphere. The main force is expected to maintain the interval concussion at night and pay attention to the resistance level of 13000 yuan / ton above. (SMM Xu Man 021 Mel 51595898)

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