SMM, May 29th:

The main 2007 contract of Shanghai Aluminum opened at 13155 yuan / ton in the morning, briefly down 13110 yuan / ton at the beginning of the session, rose first and then suppressed at noon, and was under pressure at 13185 yuan / ton. In the afternoon, short positions began to be concentrated, aluminum prices rose and climbed all the way. By the end of the day, they reached a daily high of 13260 yuan / ton, continuing to refresh yesterday's new high, closing at 13215 yuan / ton, up 110yuan / ton, up 0.84%. Trading volume decreased by 11340 lots to 105000 lots, positions decreased by 8954 lots to 151000 lots, and short positions were mainly reduced to close at Xiaoyang line, recording six Lianyang. In the case of strong superimposed consumption in the absence of treasury, the spot circulation in the market is tight, the short-sellers are not strong in the near future, and it is expected to be mainly strong and volatile in the short term. (SMM Xu Man 021 Mel 51595898)