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Today's aluminum prices continued to weaken, as of the close of 3 pm, the main 2107 contract of Shanghai aluminum closed down at 18260, down 1.
08%.
On the macro side, the market's concerns about the tightening of monetary liquidity have further increased, coupled with the domestic regulation of commodity prices and the risk of policy uncertainty, which has put pressure
on aluminum prices.
Fundamentally, due to factors such as the tight power supply in Yunnan and carbon neutrality in Inner Mongolia, some aluminum plants have limited production and peak-shifting production, which is expected to exceed one month, and the reduction in supply has given certain support to aluminum prices; June to July is the off-season of transmission consumption, the destocking range or slowdown, the current downstream feedback is more of a marginal reduction
in new orders.
Overall, aluminum prices have experienced a certain degree of correction after a wave of rapid rise in the early stage, macro uncertain risks or short-term fundamental good pattern into the game, it is expected that aluminum prices show a wide range of shocks, with the marginal weakening of consumption, does not rule out that aluminum prices still have the possibility of downward, short-term recommended range operations, medium and long-term directional strategies are more appropriate to buy on the dip
.
