Overseas demand remains weak There is pressure above aluminum prices

On the macro front, the preliminary Markit manufacturing PMI for June: 49.
6; expected: 48; prior: 39.
8
.
Eurozone preliminary manufacturing PMI for June: 46.
9; expectations: 44.
5; prior: 39.
4
.
In the United States, the annualized total of new home sales revised to 580,000 from 623,000 in April
.
Overnight, the manufacturing data of the United States, Britain, France and Germany exceeded expectations, market confidence recovered significantly, the dollar fell sharply, the euro rose, and non-ferrous metals fluctuated
at a high level.

On the supply side, high profits accelerated the resumption of production; On the cost side, alumina rose slightly, thermal coal rebounded, and industry profits remained at a high level
.
In terms of premium discount, domestic spot continued to rise sharply, and the LME discount continued to narrow; In terms of stocks, LME stocks rose continuously to 1.
6 million tons, down 109,800 tons to 238,700 tons in the previous period, and 5,000 tons to 737,000 tons
from the social bank.

In terms of its own supply and demand, the support of the demand side is still there, domestic inventory continues to degrade, but the speed has slowed down significantly, in addition, aluminum prices rebound profits to accelerate the resumption of domestic production, the current consumer side still has support, the spot and inventory still show a positive impact, but it needs to be noted that some of the demand caused by the early low price replenishment will also form negative feedback in the off-season demand slowdown price decline, superimposed on the expectation of resumption of production on supply pressure, strong reality and weak expectations will continue to game
.
In general, aluminum prices supported by spot will continue to maintain a strong pattern, but the upward pressure will gradually increase
.