AAG

Capital positions give priority to the Shanghai aluminum sideways

by:AAG     2020-11-07


capital positions give priority to the Shanghai aluminum sideways SMM8 31 - London open at $2090 / ton aluminum, aluminum profile and aluminum plate of Aaron before noon on tight trading range in between 5/10 - day moving average, the afternoon following the domestic Shanghai aluminum upward touch high $2103 / ton, then around 2100 yuan/ton integer mark for the high and volatile, into the European trading session, Aaron aluminum line fluctuated violently around 5, 10 line support once the test low hit 2093 dollars/tons, eventually close above 5 - day moving average closed at $2093 / ton, Aaron is expected to aluminum continue around 5/10 today - day moving average wide range, operation range 2075 ~ $2100 / ton. Overnight us dollar has strong inhibition of metal, the Shanghai aluminum 1711 contracts in 16405 yuan/ton, then basically confined sideways in below 5/10 line resistance, aluminum low hit 16315 yuan/ton, difficult to form effective breakthrough high touch 16490 yuan/ton, 16410 yuan/ton, holdings reduce 5424 to 394268 hand, Shanghai aluminum holdings to reduce 14494 to 977874 hands, positions continue to reduce. Shanghai aluminum 1711 contracts above 5/10 line adhesion formation strong resistance, is expected to continue to try to break today, operating range of 16250 ~ 16600 yuan/ton, cash discount 240 ~ 200 yuan/ton.
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