June 23 aluminum market afternoon review

The current electrolytic aluminum social inventory continued the rhythm of destocking, and the inventory decreased by 29,000 tons to 890,000 tons this week, and the destocking speed further slowed down
.
The market is at the end of the consumption season, and the fundamentals will lack the momentum to promote the continuous upward trend of aluminum prices after the marginal decline in consumption, and it is expected that aluminum prices will remain volatile for a period of time in the future
.
In addition, the recent rainfall in Yunnan has rebounded, effectively alleviating the shortage of water power energy and the load of thermal power, and then pay attention to the specific time point
of the impact of Yunnan's production restrictions.
With the landing of the news of the national dumping of reserves, the work of ensuring supply and stabilizing prices will be carried out gradually, and domestic and foreign policies will have a strong impact on aluminum prices in the short term
.

The State Reserve Bank announced the first batch of aluminum reserves, which was less than expected
.
Overnight, Lun aluminum opened high and closed high in Zhongyang, opening higher at $
2429 today.
Shanghai aluminum rose slightly at the night high, closing above the 20/60-day moving average at 18730
.
Shanghai aluminum trading declined, positions rose, and market sentiment was optimistic
.
The trend of aluminum prices is significantly stronger than that of copper prices, and demand is better, which may take the lead in stabilizing and rebounding
.
Support around 18,000 below Shanghai aluminum is strong, and it is expected to rise again in the medium term
.
Upper pressure 19000, lower support 18000
.