July 7 aluminum market noon comment

Overnight, Lun aluminum fell sharply to close the long black line, opening slightly higher at $
2505 today.
Shanghai aluminum night high fell back to close the shade, closing at 18800
.
Shanghai aluminum trading rose and positions fell, and market sentiment was more conservative
.
Global aluminum demand is better, and the strong trend of London aluminum may drive Shanghai aluminum
.
Shanghai aluminum below the 18000 around the support is strong, short-term volatility, medium-term is expected to shock upward
.
Upper pressure 19500, lower support 18500
.

On the macro level, the Central Office and the State Office strictly verify the legality of the source of securities investment funds and strictly control the leverage ratio
.
The Fed's monetary policy has entered a stage of discussion and adjustment, and the fundamentals have entered an off-season, showing a further slowdown trend, while the momentum of internal and external economic recovery has declined, and the market has entered a stage of high volatility
.

In terms of fundamentals, demand performance was weak in the off-season, while aluminum rod processing fees were low, increasing the pressure to increase aluminum ingot inventory.
SMM inventory on the 1st reported 876,000 tons, an increase of 0.
2 from last Thursday; during the same period, the steel union statistics aluminum rod inventory was 121,500 tons, an increase of 10,500 tons from last Thursday; the export of unwrought aluminum and aluminum products in May was 439,000 tons, a slight increase of 18,000 tons from the previous month, and the export performance was stable; the import of aluminum ingots in the same period was 97,300 tons, down 58,300 tons from the previous month; Yunnan's resumption of production and new production is still slow
.