Alumina companies cut production and raised prices, and aluminum prices were supported by costs

In terms of market, Shanghai transaction concentration is 13980~14000 yuan / ton, the discount for the month is 30~20 yuan / ton, Wuxi transaction concentration is 13980~14000 yuan / ton, Hangzhou transaction concentration is 14000~14020 yuan / ton
.
Cargo holders shipped steadily, discounted recycling, middlemen weakened to receive goods, some enterprises with wrong prices in the early stage made up inventory, downstream enterprises' consumption became weaker, and the overall purchasing intensity under on-demand procurement weakened in July, and the overall transaction fell
from the previous day.

In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 735719 tons, down 1,001 tons
from the previous trading day.
As of July 10, LME aluminum stocks increased by 1,300 tons to 1116550 tons
.

Macro information, the Bureau of Statistics released the latest data showing that China's June CPI was 1.
9% year-on-year, 1.
9% expected, and 1.
8%
in the previous month.
Although unchanged from expectations and slightly higher than the previous reading, the CPI still showed a slight decline of 0.
1% month-on-month, which is also the fourth consecutive month of month-on-month decline
.
China's June PPI was 4.
7% y/y vs.
4.
5% expected vs.
4.
1%
prior.
After a month-on-month increase in May, PPI rose another 0.
3%
month-on-month this month.
The message is neutral
.

Industry information, Shanxi Xiaoyi Xing'an Chemical and Henan Sanmenxia Cayman, a subsidiary of Jin Jiang Group, recently stopped one production line each, involving a production capacity of about 1.
2 million tons per year
.
The reason for the reduction is due to the lower price of alumina and the tight
supply of bauxite in Shanxi and Henan due to environmental inspections.
How long the production reduction will be determined is undecided
.
Alumina companies cut production and raised prices, aluminum prices were supported by costs, and the news was positive
.

On the whole, the recent domestic spot aluminum inventory continued to decline, many alumina plants in Shanxi stopped production and maintenance and flexible production, alumina is expected to stop falling, which is good for aluminum prices
.
Technically, the daily K-line is supported by the 10-day moving average, the MACD indicator golden cross, the KDJ indicator diverges upward, and it is expected that the main force of Shanghai aluminum 1809 oscillation is strong, and the operating range is 14100--14600, for reference
only.