Aluminum prices fluctuated and fell It is not ruled out that there is a possibility of continuing to fall

The National Reserve announced the release of the first batch of national reserves at the end of June, and the public auction will be held from July 5 to 6, and the sale will be to downstream enterprises in the form of public bidding and continue until the end of
December.
The national reserve of aluminum reserves is between 800,000-900,000 tons, the previously expected dumping scale is 200,000-600,000 tons of water level, the monthly dumping reserve fluctuates at 3-100,000 tons, and the aluminum first determined to dump 50,000 tons, an annualized supply of 2%, did not exceed expectations and was relatively low
.

In the past, prices will rebound to a certain extent in the period after the end of the dump, especially when
the selling volume does not meet market expectations.
The current market that sells less than expected reflects the rapid rebound of aluminum prices, and the fundamentals at the end of the peak season still have some support, and it is expected to show a strong trend of volatility in the short term
.
However, at the same time, if the National Reserve responds to the previous National Development and Reform Commission's monitoring of commodity prices, and carries out targeted work to ensure supply and price stability, according to the overall reaction of the reserve market and price changes, it is not ruled out that the State Reserve Bureau will dynamically increase the scale of storage in the future, and with the peak season turning weaker, aluminum prices will face strong upward pressure
.

According to data from the International Bureau of Statistics, China's manufacturing PMI fell slightly by 0.
1% in June, still remaining stable, and on the whole, China's economic operation still maintained an expansion trend; This also indirectly reflects the current market to maintain the reason for the continuation of the warehouse, the consumption season cycle has been extended to this day, but after July, the consumption prospect market is less optimistic, the impact of the off-season is finally there, aluminum prices or there is a risk of a high fall, short-term Shanghai aluminum main force can continue to pay attention to 1.
85 support situation, the follow-up does not rule out the possibility of continuing to fall, the operation is recommended downstream for the time being, it is expected that tomorrow's spot aluminum shock falls
.