[SMM Aluminium Morning News] the rising trend does not change the expectation of Shanghai Aluminum Sanlianyang to turn to Lun Aluminum upstream.

Published: May 27, 2020 08:57

Source: Www.smm.cn

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The rising trend does not change Shanghai Aluminum Co., Ltd. Sanlianyang is expected to turn to Lun Aluminum upstream.

SMM, May 27th:

The main 2007 contract of Shanghai Aluminum opened at 12835 yuan / ton overnight, adjusted around 12850 yuan / ton at night, rose more than 100 in the morning, the center of gravity moved up to around 12950 yuan / ton, and closed at 12940 yuan / ton, an increase of 0.78%. The trading volume increased to 88000 and the position increased to 161000. Day line Sanlianyang, or continue to test the upper integer bits. Aluminum plant to maintain profitability, new capacity continues to put in, short-term demand is still strong, spot rising water situation does not change, the market is far weak in the near future, the main operating range is expected to be 12700 Mel 13100 yuan / ton.

Overnight aluminum opened at 1507.0 US dollars / ton, first suppressed and then rose in the Asian session, fluctuated around 1510 US dollars / ton, was highly volatile in European trading, broke and stood firm at 1520 US dollars / ton in US trading, and closed at 1521.5 US dollars / ton, up 1.2%. The trading volume decreased to 10000 lots and the position was 856000 lots. Many countries lifted the blockade restrictions, commodity stock markets rose, the demand for basic metals is expected to improve, and there is support in integer digits below Lunal, which is expected to operate in the range of 1500,000,000 yuan / ton today.

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