[SMM Aluminium Morning News] Zhenlun Aluminum continues to rise in demand for Shanghai Aluminum to receive Yang from Shanghai Aluminum Co., Ltd.

Published: Jul 29, 2020 08:53

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The demand for Zhenlun Aluminum continues to rise in Zhenlun Aluminum Co., Ltd.

SMM, July 29th:

Yesterday, Shanghai Aluminum's main 2009 contract opened as low as 14270 yuan / ton in the morning, rising to around 14400 yuan / ton at the opening, fluctuating weakly in the range of 14300-14400 yuan / ton; the afternoon price once dived to 14245 yuan / ton, but then rebounded and recovered some of the decline. it closed at 14330 yuan / ton in late trading, the trading volume was reduced to 65000 hands, the position was increased to 120000 hands, and the daily line closed at Xiaoyang. The total position of Shanghai Aluminum Futures is 374000 lots, and the trading volume is 243000 lots. Yesterday night, the main 2009 contract of Shanghai Aluminum opened slightly higher at 14375 yuan / ton, slightly adjusted to pull up, a high of 14550 yuan / ton, closing at 14500 yuan / ton at the end of the day. Macro liquidity is loose, the overall metal is strong, the overall consumption on the demand side is OK, and there is still support in the face of aluminum prices. It is expected that today's Shanghai Aluminum 2009 contract operating range of 14300-14700 yuan / ton.

Yesterday, Lun Aluminum opened at $1710.0 / tonne, rising to around $1716.5 / tonne at the beginning of the Asian session, then falling at one point and falling to a low of $1705.5 / tonne. In the European session, it first depressed and then rose, falling again from $1715 / tonne to $1705 / tonne, and then climbed back to around $1716 / tonne. The US market rose continuously, reaching a high of 1728 US dollars / tonne. In late trading, trading volume increased to 11000 lots and positions decreased to 796000 lots, while good economic data and stimulus measures pushed up the price of base metals in Zhongyang, which closed at the end of the day in Zhongyang, where trading volume increased to 11000 lots and positions decreased to 796000 lots. Today's operating range is expected to be between US $1700 and US $1740 per ton.

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