[SMM Aluminium Morning News] the rising trend does not change. Shanghai Aluminum has set a new high and Lun Aluminum Lianyang has continued to rebound.

Published: Jul 1, 2020 09:05

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The rising trend does not change the rising trend of Shanghai Aluminum continues to rebound in Lianyang.

SMM, July 1:

Yesterday, Shanghai Aluminium's main 2008 contract opened at 13820 yuan / ton in the morning, fluctuated in the range of 13750 won 13800 yuan / ton after a slight decline, and increased its position in the afternoon, hitting 13850 yuan / ton, closing at 13830 yuan / ton in late trading, trading volume increased to 91000 hands, position increased to 165000 hands, volume and price increased daily line closed at Xiaoyang. The total position in the Shanghai Aluminum Index decreased slightly to 447000 lots, while trading volume increased by 24000 lots to 180000 lots. The main rally of Shanghai Aluminum continued in the night trading, pulling up 100 yuan in the first half hour, then adjusted in the range of 13870 Mutual 13930 yuan / ton, and finally closed at 13900 yuan / ton. Spot to maintain high rising water, near strong and far weak structure unchanged, the monthly difference has expanded, the main operating range of Shanghai aluminum is expected to be 13800 Mel 14100 yuan / ton.

Lun aluminum opened at $1613.0 / ton yesterday, fluctuating within a narrow range of $1610 / ton in Asian trading, rebounding after falling to an intraday low of $1607 / tonne; European trading rose slightly, fluctuating around $1620 / tonne; the US market rose first and then fell, with a wide range running in the 1615Muth1626 / tonne range; late trading closed higher at $1618.0 / tonne, with trading volume increased to 14600 hands and position increased to 824000 hands. It is expected to run at US $1600 per ton today.

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