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[SMM Aluminium Morning News] stop falling and stabilize Shanghai Aluminum still has to support the market worry aggravates the sharp fall of Lun Aluminum.
May 25,2020 08:45CST
translation
Source:Www.smm.cn
Stopping the decline and stabilizing Shanghai Aluminum still has support for the market worries aggravate the sharp fall of Lun Aluminum.
The content below was translated by Tencent automatically for reference.

SMM, May 25:

The main 2007 contract of Shanghai Aluminum opened at 12765 yuan / ton overnight, rebounded and rose by more than 100 yuan at night, broke the rise in the morning, and then fluctuated in a narrow range around 12800 yuan / ton, closing at 12790 yuan / ton, an increase of 0.12%. The trading volume decreased to 123000 hands, and the position increased to 158000 hands. The daily line closed in Xiaoyang, shrinking and stabilizing. The decline in inventory has slowed, the supply of goods in circulation has increased, the spot price has fallen, the monthly difference has narrowed, and the aluminum futures have been adjusted briefly. The macro stimulus brought by the two sessions is limited. It is expected that the main operating range today will be 12600mil 13000 yuan / ton.

Overnight Lun aluminum opened at $1520.5 / ton, fluctuated down in the Asian session, fell below $1210 / ton at the end, remained unchanged in the European session, approached a low of $1490 / ton, rebounded in the US session and returned to the integer top, closing down 1.15% at $1503.5 / tonne in late trading, with trading volume reduced to 11000 lots and positions increased to 856000 lots. Relations between China and the United States are slightly strained and markets are worried that the dispute will affect the prospects of economic recovery. Lomalco continues the trend of wide range volatility since the beginning of April, and British banks are closed for the spring holiday today (May 25 Monday).

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