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Aluminum market summary: oil prices rose to the highest in three months to drive the market, overnight Lun aluminum was shocked to close up $15, Hydro may reduce alumina production capacity, domestic demand continues to be
strong.
Shanghai aluminum ran at a high level during the day, and the latest closing quotation of the main month 2008 contract was 13730 yuan / ton, up 130 yuan, or 0.
96%.
In terms of the market, on June 22, the domestic spot aluminum price rose, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Network was reported at 13970 yuan / ton, up 60 yuan; The price of Chinalco East China AOO aluminum ingots was 13990 yuan / ton, up 70 yuan
.
Due to the power outage at the mine end, Hydro may reduce alumina production capacity to 50% to 70% for two or three weeks, affecting production by 100,000-150,000 tons, which may support alumina prices; Domestic demand continues to be strong, inventories are still falling, but the pace of decline has slowed, and spot aluminum prices are expected to rise
today.
In terms of inventory, the London Metal Exchange (LME) reported its latest inventory of 1617825 metric tons on June 22, an increase of 12,200 metric tons, or 0.
76%,
from the previous trading day.