June 25 aluminum market afternoon comment

Overnight, Lun aluminum bottomed out and turned red and rose, opening flat at $
2440 today.
Shanghai aluminum opened higher and rose slightly in overnight trading, closing at 18765
.
Shanghai aluminum trading is stable, positions are rising, and market sentiment is optimistic
.
The trend of aluminum prices is significantly stronger than that of copper prices, and demand is better, taking the lead in stabilizing and rebounding
.
Support around 18,000 below Shanghai aluminum is strong, and it is expected to rise again in the medium term
.
Upper pressure 19500, lower support 18000
.

The first batch of dumping rules were announced, which was less than expected
.
In addition, Shandong Province has also taken the lead in restricting the replacement of new projects in the electrolytic aluminum industry, but this year Shandong Province has no new projects planned for construction, so the impact is more in the long term
.
At present, the peak season of aluminum processing has obvious signs of weakening month-on-month, and with production cuts in Yunnan will resume at the end of the month, the tight supply-side expectation will also change
in July.
At this stage, the situation of continuous destocking will also support the high operation of aluminum prices for a period of time
.