The market atmosphere is bearish and aluminum prices are weak and volatile

On the macro front, the US dollar index has continued to rise sharply recently, standing at the 105 mark, which has a restraining effect on non-ferrous metals; U.
S.
stocks fell, commodity resonance fell, and the market sentiment was bearish
.

On the supply side, market risk aversion is still disturbed, electrolytic aluminum supply pressure still exists in June, and low aluminum ingot inventories at home and abroad may form support
.
After June, the supply side continued to resume production and the planned release of new production capacity, mainly concentrated in Yunnan, Gansu, Guangxi and other places
.

In terms of consumption, the market maintained that it just needed to take goods, but the market transaction sentiment remained weak and the overall performance was not good
.
The domestic aluminum downstream processing industry continued to grow month-on-month, and some downstream enterprises were cautious
in purchasing due to circulation problems.
On the whole, the recovery of downstream demand is insufficient, and it is recommended to choose to take profit and
wait and see.

In terms of price, the current growth rate of electrolytic aluminum operating capacity has slowed down, demand or under policy support has been repaired, and the recent panic shipments of spot traders have led to smooth destocking of aluminum social inventory, and low inventory at home and abroad has supported aluminum prices, but in the short term, domestic aluminum prices are dragged down by macro pressure and unclear domestic warehouse events, and it is recommended to treat it with a wait-and-see approach in the short term
.