Social inventory destocking slowed down, and Shanghai aluminum fluctuated downward

Today's Lun aluminum is weak and volatile, LME three-month Beijing time at 15:02 at 2463 US dollars / ton, down 25 US dollars, or 0.
98%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 18790-18830 yuan / ton, down 40 yuan; Guangdong South Reserve reported 18850-18910 yuan / ton, down 40 yuan; Hua reported 18850-18890 yuan / ton, down 20 yuan
.
The holder was unable to support the price, the receiver continued to buy at a low price, the enthusiasm of large households to receive the goods was average, and the overall transaction was not good
.

In terms of fundamentals, this week's domestic social stocks decreased by 13,000 tons from the previous week to 863,000 tons, and aluminum ingot stocks may gradually stabilize
in the future.
In July, Yunnan's supply is expected to resume growth, in addition, the national reserve began to dump reserves until the end of the year, at about 50,000 tons per month, and supply is expected to turn from tight to balanced
in the second half of the year.
In addition, Russia plans to increase tariffs on exported aluminum ingots from August to the end of the year, which is expected to have a limited
impact on aluminum prices.
In terms of long-term trends, the promotion of new energy is conducive to aluminum downstream consumption, coupled with carbon neutrality and domestic policies to suppress production capacity, the long-term center of gravity of aluminum prices is expected to still rise, and the current trend of aluminum prices has entered a range of
shocks.