[SMM Aluminium Morning News] the shrinking volume rebounded and the Shanghai Aluminum Center of Gravity moved up and the bank closed in London on holiday.

Published: May 26, 2020 08:49

Source: Www.smm.cn

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Shrinking quantity rebounds Shanghai Aluminum Center of Gravity moves up Bank Holiday London is closed

SMM, May 26th:

The main 2007 contract of Shanghai Aluminum opened at 12805 yuan / ton overnight, fluctuated narrowly around 12800 yuan / ton at night, rose and fell back in the morning, the center of gravity moved up to around 12850 yuan / ton, and closed up at 12840 yuan / ton, an increase of 0.39%. The trading volume decreased to 81000 lots and the position was 158000 lots. The daily line closed at Xiaoyang, shrinking and rising. Aluminum ingots continue to go to the warehouse, spot water rises to maintain stability, and contracts have strengthened again in recent months, while the expected increase in supply and declining demand are expected to put pressure on the long-month price, which is expected to be in the main operating range of 12600 won 13000 yuan / ton today.

British banks were closed for spring holidays yesterday.

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