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[SMM Aluminium Morning News] Shanghai Aluminum continuously pulls back the narrow range fluctuation of Shanghai Aluminum.
Jul 16,2020 09:13CST
translation
Source:SMM
Continuous callback of shanghai aluminum warehouse reduction and narrow range fluctuation of shanghai aluminum
The content below was translated by Tencent automatically for reference.

SMM, July 16:

Yesterday, the main 2008 contract of Shanghai Aluminum opened at 14465 yuan / ton in the morning, with a slight fluctuation at the opening, and then a narrow range fluctuated in the range of 14450 million yuan / ton; in the afternoon, it rose slightly to around 14560 yuan / ton, then fell and vomited back the increase, finally closing at 14475 yuan / ton, the trading volume was reduced to 120000 hands, the position was reduced to 138000 hands, and the daily line Xiaoyin. The total position in Shanghai Aluminum Futures was reduced to 407000 lots, and the transaction volume was reduced to 232000 lots. Shanghai Aluminum opened at 14485 yuan / ton in night trading, fell more than 100 yuan at the start of trading, then continued to decline, trading as low as 14240 yuan / ton, and closed at 14305 yuan / ton at the end of the day. Market optimism dissipates slightly, part of the funds profit to understand the withdrawal, the spot end is still high water, the futures price is supported, the main operating range of Shanghai aluminum is expected to be 14,100mi 14500 yuan / ton.

Overnight Lun aluminum opened at $1683.0 / tonne, pulled up slightly at the beginning of the Asian session, and then fluctuated in a narrow range of 1685mur1690 US dollars / tonne; the European session continued to fluctuate, with the fluctuation range slightly expanded to 1682Mel 1692 per tonne; the US market fell sharply at the beginning of the session, with a intraday low of 1673.0 US dollars / tonne, while the US market fell sharply at the beginning of the session, with an intraday low of 1673.0 US dollars per tonne. After a slight rebound in late trading, it closed around $1678.5 / tonne, with trading volume reduced to 10700 lots and positions reduced to 820000 lots. The operating range is expected to be US $1,660 per ton today.

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