Market worries deepened, and bears increased their positions to put pressure on aluminum prices

In terms of external trading, Lun aluminum opened at 2082.
5 US dollars / ton in the morning, during the Asian session, Lun aluminum due to the escalation of Sino-US trade frictions with the overall shock of nonferrous metals, the morning market directly plunged down 2062 US dollars / ton, the low in the morning session hovered around 2065 US dollars / ton to finish, in the afternoon, Lun aluminum volatility intensified, the decline deepened
.
After entering the European session, Lun aluminum rebounded after touching $2053 / ton at a low level, and to 18:03, Lun aluminum reported 2070.
5 US dollars / ton
.

In terms of the market, aluminum has recovered
after falling sharply before noon that month.
Shanghai transaction concentration is 13820~13840 yuan / ton, the discount for the month is 20-10 yuan / ton, Wuxi transaction concentration is 13820~13840 yuan / ton, Hangzhou transaction concentration is 13850~13870 yuan / ton
.
Aluminum fell sharply, the discount narrowed, the shipment efforts of holders increased, middlemen and downstream enterprises wait-and-see sentiment breeded, and the overall transaction was slightly worse
than the previous day.

Important news at home and abroad:

1.
After nearly two months of continuous decline in domestic aluminum prices, domestic aluminum companies have recently released news of alumina production reduction
.
On the evening of July 5, Aluminum Corporation of China said that it would implement flexible production on part of the company's Shanxi alumina production line, involving an alumina production capacity of about 770,000 tons
.

2.
In recent years, most of China's mineral resources have maintained a growth trend, but the growth rate has slowed down
significantly.
Among them, most of the energy mineral reserves have increased, and the identified resource reserves of metal minerals have generally increased
.

Overall, the sudden increase in tariffs by the United States has caused a sudden deepening of market worries, and non-ferrous metals have fallen sharply as a whole
.
However, compared with other items, the recent tightening of aluminum ore supply, the rebound of alumina production reduction prices also gave strong support to aluminum prices from the cost side, and bulls are still confident to enter
frequently at low levels.
Continue to pay attention to the progress of the Sino-US trade war, if there is no new news stimulus, Shanghai aluminum is expected to get confidence
in a low rebound.