[SMM Aluminium Morning News] Shanghai Aluminium Xiaoyang picks up the rising trend and Lun Aluminum pullback is slightly down.

Published: Jul 6, 2020 08:59
Shanghai Aluminum Xiaoyang picks up the rising trend and the pullback of Lun Aluminum is slightly down.

SMM, July 6:

Last Friday morning, Shanghai Aluminum's main 2008 contract opened at 13985 yuan / ton, rising first and then falling in the afternoon, fluctuating around 14000 yuan / ton; rising steadily since Wan4 in the afternoon, reaching a high of 14075 yuan / ton in the afternoon, closing at 14055 yuan / ton at the end of the day, trading volume decreased to 82000 hands, position increased to 168000 hands, daily line closed at Xiaoyang, weekly line closed at entity Dayang. The total position in the Shanghai Aluminum Index decreased slightly to 440000 lots, while the trading volume decreased to 161000 lots. The main force of Shanghai Aluminum opened slightly higher in the night market, then fluctuated in the range of 14010 won 14100 yuan / ton, and then closed at 14055 yuan / ton. The rising trend of aluminum futures remains unchanged, and the spot rising water has fallen somewhat. It is expected that the main operating range of Shanghai aluminum will be 13900mur14200 yuan / ton today.

Last Friday, Lun Aluminum opened at $1623.5 / ton, which fluctuated weakly in the Asian market, with an operating range of $1617, 626 / ton. In the European market, positions fell slightly, falling by about $10. In the US market, there was a wide range of fluctuations around $1615.0 / tonne, the fluctuation range increased. At the end of the day, it closed down at US $1612.0 / ton, the trading volume was reduced to 6900 lots, and the position was reduced to 820000 lots. The daily line closed at Xiaoyin, while the weekly line closed at Xiaoyang. It is expected that today's operating range will remain at 1600 won 1640 yuan per ton.

 

Scan the QR code and apply to join the SMM metal exchange group.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Feb 7, 2026 17:24
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Read More
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution
Federal Reserve Governor Milan pointed out that it is necessary for the US Fed to cut interest rates by more than 100 basis points this year. At the same time, he is very much looking forward to the performance of Kevin Warsh as Fed Chairman. However, Richmond Fed President Barkin emphasized that monetary policy must remain cautious until inflation fully pulls back to the target level, thereby ensuring the stability of the labour market.
Feb 7, 2026 17:24
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Feb 7, 2026 17:23
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Read More
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation
All 11 Democratic members of the US Senate Banking Committee jointly sent a letter to the committee's chairman, Tim Scott, requesting that all nomination processes for the prospective Fed Chairman, Kevin Warsh, be postponed until the criminal investigation into current Fed Chairman Powell and other board members is concluded. However, Scott stated that Warsh's confirmation was a done deal.
Feb 7, 2026 17:23
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Feb 7, 2026 17:23
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Read More
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027
The US Fed has announced that it will maintain the capital levels of large banks unchanged during the upcoming stress test cycle (corresponding to the 2026 cycle). At the same time, the US Fed is planning multidimensional reforms to this annual test, aiming to enhance its transparency. The US Fed's Vice Chair for Supervision, Bowman, revealed that adjustments to the stress capital buffer requirements for large banks will be postponed until 2027. This move is intended to provide the US Fed with sufficient time to evaluate potential flaws that may be exposed in its testing models when assessing banks' financial conditions under simulated economic downturn scenarios.
Feb 7, 2026 17:23