Stock index futures ushered in a decline and aluminum prices pulled back

In terms of external trading, Lun aluminum opened at 1684.
5 US dollars / ton in the morning, during the Asian session, the price of Lun aluminum fluctuated downward, and recorded a low of 1656 US dollars / ton at about 14:30, and Lun aluminum reported 1662 US dollars / ton
at 15:00.
During the European session, Lun Aluminum continued the decline in the late Asian session, tested down at $1656 and then rose around $1670, the performance first fell and then rose, as of 17:31, Lun Aluminum reported 1664.
5 US dollars / ton
.
Daily K closed negative, fell below the 5-day moving average, trapped in the 5-day and 10-day moving average range, is expected to continue the pressure consolidation trend in the evening, testing whether it can hold the $1660 line
.

Aluminum fell back before noon in the month
.
The transaction price in Wuxi and Shanghai is between 14510-14530 yuan / ton, down 300 yuan / ton from the previous day, the opposite plate premium is between 280-300 yuan / ton, the transaction price in Hangzhou is between 14530-14550 yuan / ton, and the aluminum fell back at 11:00, and the market price was concentrated between
14460-14490 yuan / ton.
In the morning, traders inquired positively, and the trading heat increased after 10:00, but the aluminum decline in the later period was too large, although the quotation of the holder was lowered, but the market wait-and-see sentiment gradually rose, and the later transaction was actually not much
.
A large account received goods normally today, and on the whole, trading between traders is acceptable
.
Downstream on-demand procurement is mainly within the day, because the price of aluminum fell too much, buying goods is slightly hesitant
.
The overall intraday transaction in East China is average
.
In the late afternoon, aluminum maintained a low range of volatility, and the quotations of holders were quite different, between 14300-14360 yuan / ton, and between 260-320 yuan on the plate, the transaction was light, and the wait-and-see mood was strong
.

From a fundamental point of view, the weakening of orders in the downstream aluminum processing industry of electrolytic aluminum, the slowdown in downstream demand reflected by the continuous narrowing of social inventory decline, etc.
, limited the continued upward trend of aluminum prices, and the factors were buried deep in the market
in early June.
From a macro point of view, most of the recent stock index futures have ushered in a decline, and the overall macro market sentiment has changed, driving the aluminum market to pull back
.
With the continuous rise in aluminum prices, the willingness of bulls to leave the market has increased, and they are particularly sensitive to the downward signals released by the futures market, and bulls have left the market for three consecutive days
to avoid risk.
However, on the other hand, social inventory is still in a low position, combined with the actual transaction situation of electrolytic aluminum in recent days, it is expected that the downward space of aluminum prices in the period is limited
.