Market worries still exist Aluminum price volatility is weak

On the macro front, Fed Chairman Jerome Powell said that continued interest rate hikes are appropriate, the pace of rate hikes depends on future data, and the central bank remains firmly committed to reducing inflation and exacerbating market concerns; The Hawesville electrolytic aluminum plant, a subsidiary of American Century Aluminum, has a total capacity of 250,000 tons and is the largest electrolytic aluminum company
in the United States due to high energy prices.

In terms of domestic supply, the supply side has continued to resume production and the planned release of new production capacity since June, mainly concentrated in Yunnan, Gansu, Guangxi and other places
.
In terms of consumption, although a series of encouraging policies have been released one after another, the overall real estate data is relatively sluggish, and the performance of aluminum profile orders is weak; Shanghai car companies have fully resumed work and production, and the automotive sector is expected to be good; The performance of the new energy field continues to be impressive
.
In terms of inventory, domestic social treasury data continued to destock, and LME inventories continued to decline
.

Because the supply side is at a high level, it remains to be observed whether production and maintenance are stopped due to profit reduction, and the social inventory of electrolytic aluminum is gradually declining, in line with the seasonal law
.
Alumina port inventories began to rebound, while downstream aluminium rod inventories remained stable
.

As aluminum prices continue to fall, the profits of production enterprises are also fluctuating
around 2,000 yuan / .
At present, the expected speculation of demand has been digested by the market, and the actual realization of subsequent consumption has become the direction of market prices, and if the market further raises interest rates, aluminum prices will also be further pressured
.