[SMM Aluminium Morning News] Lunlun Aluminium recovered its decline on Friday. Shanghai Aluminium was boosted by Ren Aluminium.

SMM, 28 October 2019:

On Friday, the Shanghai aluminum main company 1912 contract opened at 13850 yuan / ton, the overall performance after the opening of the market first suppressed and then rose, the shock fell after the opening of the morning trading, and the opening of the afternoon to the night session, Shanghai aluminum was boosted by the rise of Lunlun aluminum, reversed the decline and turned upward, closing at 13850 yuan / ton, flat from the opening of the day. Trading volume decreased by 7640 hands to 94144 hands, position volume reduced by 2738 hands to 235000 hands, mainly short positions. Within the day, it is expected that the Shanghai aluminum main concussion will run at 13750-13850 yuan / ton, and the spot discount will rise 80-100 yuan / ton that month.

Lunlun aluminum opened at $1717.5 a tonne on Friday, concussive operation from Asia to Europe, entering the North American trading session, Lun aluminum performance shock upward, closing day high of $1734 / ton, an increase of 0.99%. Metal on the outer plate rose and fell on Friday, Lun aluminum trend is strong, need to continue to pay attention to the Fed interest rate discussion trend. The daily aluminum shock is expected to run at US $1705-1740 per ton.

(SMM Xueman)