The overall pressure on Shanghai aluminum may continue to weaken in the short term

Today, Lun aluminum fluctuated sharply, and the LME was reported at $2,361 / ton at 15:01 Beijing time for three months, down $16, or 0.
69%,
from the previous trading day's settlement price.

Today's Shanghai aluminum low operation, China's June financial data bright to boost market confidence, but difficult to beat weak fundamentals, supply and production is rising, demand side is still in a weak situation, coupled with the recent weak domestic coal market price weakened aluminum cost side support, Shanghai aluminum under pressure further downward, fell below the 15-month low
.

In terms of the market, today's spot trading price of Yangtze River is 17970-18010 yuan / ton, down 200 yuan, discount 20-liter 20; Guangdong spot 17820-17880 yuan / ton, down 200 yuan, discount 170-discount 110; Hua reported 18020-18060 yuan / ton, down 190 yuan
.
Today's spot market trading sentiment is acceptable, large households are generally enthusiastic about receiving goods, receivers are bargaining to replenish goods, demand is performing well, and the overall trading volume has rebounded
slightly.

At present, the atmosphere of industrial products is still empty, the market sentiment is not good, coupled with the slow destocking of domestic social inventory, there are signs of accumulation in many places, while the steady growth of supply and weak consumption performance, the overall pressure of Shanghai aluminum is unable to rebound and continue to weaken, now aluminum or fall.