SMM, May 19:
Overnight, Shanghai Aluminum's main 2007 contract opened slightly lower at 12580 yuan / ton, fell slightly to around 12530 yuan / ton in night trading, quickly pulled up more than 12700 yuan / ton in the morning, then the center of gravity continued to move up to 12800 yuan / ton, and then fell slightly in the afternoon. It closed at 12760 yuan / ton, up 1.27%, the trading volume increased to 137000 lots, and the position increased to 160000 lots. The daily line closed in Zhongyang, both volume and price increased, and the index was high before refreshing. The trend of Shanghai aluminum futures has intensified, the monthly difference between contracts has continued to expand in recent months, good spot demand has maintained a rise in water, and the macro mood has improved. Today's main operating range is expected to be 12700Mel 13000 yuan / ton.
Aluminum opened overnight at $1463.0 / ton, fluctuated around $1470 / ton in Asia, and the center of gravity moved slightly up to about $1480 / ton in European trading. Aluminum prices rose sharply after the start of the US session, closing at $1500.0 / ton in late trading, up 2.74%, trading volume increased to 17000 and position increased to 870000. Some countries and regions have begun to contact the blockade of the epidemic, the economic recovery is expected to improve, and the vaccine trial has successfully boosted market sentiment. The operating range is expected to be 1480 US dollars / ton today.
Click to register: "2020 (15th) China International Aluminum processing Summit"
Scan the QR code, apply for participation or join the SMM metal exchange group