[SMM Aluminium Morning News] Shanghai Aluminum Xingao Station has tried to break through the continuous rise of Wansanlun Aluminum.

Published: May 28, 2020 09:07

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Shanghai Aluminum Xingao Station tries to break through the continuous rise of Wansanlun Aluminum.

SMM, May 28th:

The main 2007 contract of Shanghai Aluminum opened at 12965 yuan / ton overnight, the weak finishing fell below 12900 yuan / ton at night, the daily trading rose steadily, stood on the ten thousand three in the afternoon, and closed at 13015 yuan / ton in the afternoon, an increase of 0.58%. The trading volume increased to 121000 lots, and the position decreased to 157000 lots. Day line four Lianyang, the main volume reduction positions to a new high. Inventory continues to decline, spot to maintain high water, import pressure on aluminum ingots is still in, the monthly gap narrowed in recent months, Shanghai aluminum strong situation is difficult to change in the short term, the main operating range is expected to be 12900 won 13300 yuan / ton.

Overnight aluminum opened at $1520.0 / ton, weakly adjusted around $1520 / ton in Asian trading, surged above $1530 / ton in European trading, hit the previous high of April 17 in the United States, and pulled up again after a slight pullback, closing at $1529.5 / tonne, up 0.53%, trading volume increased to 16000 lots, and position decreased to 853000 lots. Heightened tensions between China and the United States, a drag on stock market commodities, LME inventories continue to rise, but Lomalco is strong, trying to break through the upper edge of the concussion range, is expected to run at 1500 Mel 1540 yuan / ton today.

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