SMM, July 9:
The main 2008 contract of Shanghai Aluminum opened at 14165 yuan / ton in the morning, and the short positions were reduced by more than 1800 hands in the first 30 minutes, and aluminum prices began to rise. Then the bulls took advantage of the opportunity to enter the market and continue to lift the rise in aluminum prices. Within half an hour in the afternoon, bulls entered the market to continue to raise aluminum prices, and aluminum futures reached an intra-day high of 14315 yuan / ton. After the long-short game, aluminum futures fluctuated around 14285 yuan / ton in the short term, and the bulls left the market at the end of the session, recording a cross star and closing at 14290 yuan / ton. 08 contract day position decreased by 2118 to 162222 hands, the Shanghai Aluminum Index position decreased by 782 to 429445 hands, the daily K closed at a positive line, up 0.99%, an increase of 140yuan / ton, mainly short positions during the day. The current inventory warehouse receipts are still low, aluminum price fundamentals are still strongly supported, short confidence is obviously insufficient today, aluminum futures prices recorded a big increase. It is expected that there are still strong shocks at night.
