Aluminum prices fell sharply and the overall market performance was not good

On the macro front, at 2 a.
m.
on June 16, the Fed announced that it raised its target range for the policy rate federal funds rate by 75 basis points, from 0.
75% to 1% to 1.
5% to 1.
75%.

This is the first time in nearly 30 years that the Fed has raised interest rates by 75 basis points
at a time.

In terms of domestic supply, after June, the supply side continued to resume production and the planned release of new production capacity, mainly concentrated in Yunnan, Gansu, Guangxi and other places
.
In terms of consumption, the market maintained that it just needed to take goods, but the market transaction sentiment remained weak and the overall performance was not good
.

In terms of price, the current growth rate of electrolytic aluminum operating capacity has slowed down, demand or under policy support has been repaired, and the recent panic shipments of spot traders have led to smooth destocking of aluminum social inventory, and low inventory at home and abroad has supported aluminum prices, but in the short term, domestic aluminum prices are dragged down by macro pressure and unclear domestic warehouse events, and it is recommended to treat it with a wait-and-see approach in the short term
.