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[SMM Aluminium Morning News] Shanghai Aluminium Lianyang Index hit a new high and macroscopically disturbed Lun Aluminum received its shadow.
Jul 31,2020 08:46CST
translation
Source:SMM
Shanghai Aluminum and Lianyang Index hit a new high and macro disturbance Lun Aluminum closed down.
The content below was translated by Tencent automatically for reference.

SMM, July 31:

Yesterday, the main 2009 contract of Shanghai Aluminum opened at 14665 yuan / ton in the morning, opened at around 14700 yuan / ton, climbed to 14805 yuan / ton after adjustment, and then fell slightly; afternoon prices fluctuated strongly in the range of 14680-14770 yuan / ton, with support on the first line of 14700 yuan / ton, closing at 14720 yuan / ton in late trading, trading volume increased to 185000 hands, position increased to 133000 hands, daily close in Zhongyang. The total position of Shanghai Aluminum is 399000 lots, the trading volume is 339000 lots, and the Shanghai Aluminum Index hit a new high. Yesterday's night trading Shanghai Aluminum main 2009 contract opened at 14720 yuan / ton, the opening fluctuation was not big, and then dragged down by the general decline in the capital market, as low as 14525 yuan / ton, the V-shaped reversal rose again to 14700 yuan / ton, closing at 14695 yuan / ton at the end of the day. The volatility of night trading increased under the influence of US economic data and news, and the increase in inventory was not obvious. The continuous rise in futures covered part of the spot rally, focusing on the sustainability of the capital push. It is expected that today's Shanghai Aluminum 2009 contract operating range of 14500-14900 yuan / ton.

Lun Aluminum opened at $1727.0 / ton yesterday, rising to a new high of $1731.5 / ton in the Asian session, followed by fluctuations around $1730 / ton. At the beginning of the European session, it broke and fell to $1723 / tonne. After a slight adjustment, it fell to around $1717.5 / tonne, and the recovery at the end fell to about $1725 / tonne. Due to the macro impact, the US trading session fell to an intraday low of 1711 US dollars / ton, then reversed and smoothed out the decline and recovered to 1725 US dollars / tonne first-line adjustment. At the end of the day, the trading volume closed at 1724.5 US dollars / ton, and the trading volume increased to 11500 hands. The position decreased to 786000 hands, and the daily line closed with Shadow Cross Star. Today's operating range is expected to be between US $1710 and US $1750 per ton.

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