【SMM Analysis: Bullish funds concentrated entry, aluminum prices break through 20,000 yuan mark today】SMM April 8, 2024 News:

During the Qingming holiday, the overseas aluminum metal market experienced a strong but volatile trend. LME aluminum rose by 3% to $2451 per ton during the holiday. On the first day after the holiday, domestic Shanghai aluminum saw a significant increase, with bulls entering the market in the morning session. As of the time of writing, the main 05 contract for Shanghai aluminum reached a high of 20,400 yuan per ton, the highest since June 2022. SMM A00 spot prices closed at 20,110 yuan per ton, up by 360 yuan per ton compared to before the Qingming Festival, and up by around 3.2% since the beginning of the year. It is expected to continue the trend of strong but volatile trading in the future.