[SMM Aluminium Morning News] the center of gravity of Shanghai Aluminum has steadily moved upward, and Lun Aluminum has risen sharply for the macro improvement.

Published: May 21, 2020 09:03

Source: Www.smm.cn

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The center of gravity of Shanghai aluminum has steadily moved upward, and the macro improvement has greatly improved Lun aluminum.

SMM, May 21:

The main 2007 contract of Shanghai Aluminum opened at 12825 yuan / ton overnight, fluctuated at 12830 yuan / ton at night, broke through 12900 yuan / ton in the morning, but fell back again with insufficient stamina, and closed slightly higher at 12875 yuan / ton, an increase of 0.19%. The trading volume was reduced to 91000 lots, and the position was reduced to 160000 hands. Day line close Xiaoyang, maintain a strong trend, spot rising water to support the near-monthly price, aluminum prices have room for further rise in the depot cycle, the main operating range is expected to be 12800Mel 13200 yuan / ton.

Aluminum opened overnight at $1485.5 / tonne. Asian trading opened low and high and continued to bear pressure at the upper integer level. European trading fluctuated around a narrow range of $1490 / tonne, while in the US, it rose sharply and continued to rise after breaking through $1500 / tonne. In late trading, it closed at 1515.0 US dollars / tonne, up 1.78%, the trading volume increased to 14000 lots, and the position decreased to 856000 lots. Rising oil prices and stronger global stock markets led the base metals upward in late trading. The market attitude changed quickly, and the economic recovery is expected to be optimistic. Today's operating range is expected to be 1490Mel 1530 US dollars / ton.

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