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Overnight, the main force of Shanghai aluminum 2207 closed at 19740, down 215, and LME aluminum closed at 2558, down 79; Aluminum prices fell into a volatile neutral pattern in the short term, and yesterday still closed down, which is expected to test the low before May, or there will be some support
in the short term.
On the macro front, the US CPI annual rate recorded 8.
6% in May, a new high since December 1981, higher than the expected value and the previous value by 0.
3 percentage points, the market is worried about the Fed's aggressive interest rate hike sentiment has risen, the US market broke out stock and bond double killing, the dollar soared
.
Natural gas prices in Europe soared again as LNG equipment terminals were not in place
.
Aluminum prices have retreated for two consecutive days amid reduced inventories, mainly due to high inflation and acceleration, and interest rate hike expectations strengthened
.
In addition, the domestic fundamentals are not good, the supply side continues to rise, the downstream start of consumption has not increased significantly, the pressure still exists, and multiple negative factors put pressure on aluminum prices
.
However, the low level of aluminum social inventory at home and abroad, and the maintenance of domestic aluminum ingots to destocking, to the bottom of aluminum prices support, short-term aluminum prices focus on 19500 support
.
