Weak domestic demand puts pressure on Shanghai aluminum The short-term performance is difficult to say optimistic

Today, Lun aluminum fluctuated up and down, and the LME reported at 2638 US dollars / ton at 15:01 Beijing time for three months, a slight increase of 1 US dollar, or 0.
02%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 19890-19930 yuan / ton, down 180 yuan, discount 20-liter 20; Guangdong spot 19850-19910 yuan / ton, down 120 yuan, discount 60-discount 0; China reported 19950-19990 yuan / ton, down 180 yuan
.
Spot circulation is still tight, holders continue to sell at high prices, receivers at low prices actively enter the market, stocking is more active, and the overall trading is better, but the trading volume declined
.

In terms of inventory, Lun aluminum stocks have been falling non-stop, and they have reached a new low
of more than 21 years.
According to data released by the London Metal Exchange (LME), London aluminum inventories continued to decline last week and still seem to be on a stop-down trend, with the latest inventory level of 423,975 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
.

Overall, the US dollar index extended its rally, hitting a new four-week high, non-ferrous metals weakened across the board, and Shanghai aluminum fell sharply to a low during the day, closing down 2.
82%.

Although the improvement of the epidemic superimposed on policy stimulus, and the good development of new energy is expected to boost aluminum demand repair, but due to the weak reality slightly better, aluminum prices are difficult to continue to rise, and supply continues to increase, primary aluminum imports basically stopped, weak domestic demand put pressure on aluminum prices, short-term aluminum price performance is difficult to be optimistic
.