Market supply is gradually increasing There is pressure above Shanghai aluminum

In the external market, today's Lun aluminum volatility is weak, LME three-month aluminum Beijing time at 15:00 at 1683 US dollars / ton, down 7 US dollars, or 0.
41%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River was 14870-14910 yuan / ton, down 440 yuan; Guangdong South Reserve reported 14770-14830 yuan / ton, down 300 yuan; Hua reported 14990-15010 yuan / ton, down 420 yuan
.
The circulation of goods is relatively abundant, there are not many purchases by large households, traders can make fair transactions, the enthusiasm of downstream receiving goods has rebounded, and the overall transaction is average
.

Industry news, Yunnan green aluminum innovation industrial park began construction in December last year, at present, site leveling, water, electricity, roads, pipeline relocation and other work is progressing in an orderly manner, the first phase of its 1.
08 million tons of electrolytic aluminum project is expected to be powered and put into operation
in August this year.

As the time enters July, off-season consumption is gradually reflected, downstream orders decline, processing enterprise operating rate weakened month-on-month, but due to the difference in the pace of recovery in various sectors, consumption is in a replacement recovery, resulting in high expectations of off-season consumption, exports, overseas is in the stage of economic recovery, but in the case of high internal and external ratios, the increase in exports driven by the improvement of external demand is still limited, and exports are expected to remain low
.
On the supply side, the new production capacity mainly in Yunnan region continues to be released, according to the production plan, the capacity increase in the second half of the year will be significantly improved, and the supply growth trend will remain unchanged
.
On the cost side, following the announcement of Chinalco's alumina plant in Shanxi Province will enter flexible production, the rebound of alumina prices has accelerated, and the short-term supply tension pattern may intensify, increasing the space
for alumina price rebound.
At present, inventories have reappeared at an inflection point, but the accumulation range under low inventories may be limited, while macro sentiment is more optimistic, and aluminum prices continue to run
at a high level.