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[SMM Aluminium Morning News] A narrow range fluctuation of Shanghai Aluminum Co., Ltd. and Shanghai Aluminum Co., Ltd.
Jul 30,2020 08:46CST
Shanghai Aluminum Co., Ltd., Shanghai Aluminum Co.
The content below was translated by Tencent automatically for reference.

SMM, July 30th:

Yesterday, Shanghai Aluminium's main 2009 contract opened at 14500 yuan / ton in the morning, opening shaken down, low to 14400 yuan / ton, and then rebounded slightly to about 14450 yuan / ton; afternoon price trend is strong, wipe out the decline before noon, in 14500 yuan / ton first line adjustment, closing at 14505 yuan / ton, trading volume increased to 149000 hands, position increased to 124000 hands, daily close of small Zhongyang. Shanghai Aluminum has a total position of 385000 lots and a trading volume of 272000 lots. Yesterday night trading Shanghai aluminum main 2009 contract opened at 14500 yuan / ton, opened continuously pulled up, the high point to 14680 yuan / ton, and then fluctuated in the range of 14620-14680 yuan / ton, closing at 14655 yuan / ton. The overall macro aspect is too much, there is no obvious change in inventory, spot still has a supporting role in futures prices, the recent two trading days position increased significantly, some funds re-enter the market. It is expected that today's Shanghai Aluminum 2009 contract operating range of 14400-14800 yuan / ton.

Yesterday, Lun Aluminum opened at 1724.0 US dollars / ton, alternating in the Asian market, fluctuating in the range of 1723-1730 US dollars / ton, with little fluctuation; in European trading, the shock was weak, gradually falling back from a high of 1730 US dollars / ton to around 1720 US dollars / tonne; the US market fell first and then rose, and then rose to around 1717.5 US dollars / ton, and then rose continuously to wipe out the daily decline. At the end of the day, it closed at US $1727.5 / ton, the trading volume was reduced to 9000 lots, the position was reduced to 794000 lots, and Xiaoyang was closed on the daily line. Today's operating range is expected to be between US $1710 and US $1750 per ton.

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