[SMM Brief Comment on Aluminum Futures: Conflicting Fed Data Leads to

Published: Jun 28, 2024 18:26

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[SMM Brief Comment on Aluminum Futures: Conflicting Fed Data Leads to Volatility in Shanghai Aluminum Futures, Which Drops then Rebounds Today] Today, the main contract 2408 of Shanghai Aluminum Futures opened at 20,315 yuan/ton, reaching an intraday high of 20,345 yuan/ton and a low of 20,135 yuan/ton. The main contract first fell in volatility and then recovered slightly, ultimately closing at 20,320.5 yuan/ton, down 0.2%. The trading volume was 175,000 contracts, and the open interest was 198,000 contracts, a decrease of 2,869 contracts. Today, the LME three-month aluminum futures opened at $2,496/ton, showing wide volatility. As of 18:00 Beijing time, the LME aluminum price closed at $2,494/ton, down $2.5/ton during the day...

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