June 13 Shanghai aluminum brief comment

In terms of inventories, data released by the London Metal Exchange (LME) showed that London aluminum stocks continued to decline last week and still seem to be on a stop-down trend, with the latest inventory level of 427,350 tons, another more than 21-year low
.
Data released in the last issue showed that Shanghai aluminum inventories continued to fall last week, and have fallen for five consecutive weeks, falling by 3.
42% to 269,583 tons in the week of June 10, falling to a four-month low
.

Macro, because the US CPI data on Friday is too bright, the market's concerns about high inflation have intensified, in addition, the Fed interest rate hike is approaching, the market trading is more cautious, risk aversion spreads, short forces short-term or dominate the trend of aluminum prices, domestic supply and demand easing recovery to the spot price support is limited, Shanghai aluminum recommended to pay attention to the 19800-20300 range fluctuations, it is expected that tomorrow's spot aluminum will continue to be weak shock, the operation is temporarily waiting for the Fed interest rate meeting
.