1. On June 23, SMM counted that the social inventory of electrolytic aluminum in China was 751000 tons, which was 6000 tons lower than that on Monday and 34000 tons lower than that on last Thursday. Wuxi and Foshan areas go to Kuku, and Gongyi area accumulates Kuku.

2. On June 23, SMM counted that China’s aluminum bar inventory decreased by 7400 tons to 111600 tons compared with last Thursday. Except for the small accumulation of reservoirs in Wuxi, all other regions showed the loss of reservoirs.

3. the initial PMI of Markit manufacturing industry in the United States in June was 52.4, a 23 month low, and significantly lower than the expected 56, the previous value was 57. The initial value of PMI in service industry is 51.6, the expected value is 53.5, and the previous value is 53.4. The initial value of Markit comprehensive PMI in the United States in June was 51.2, the expected value was 52.9, and the previous value was 53.6. The initial value of the manufacturing output index was 49.6, a 24 month low, far less than the 55.2 of the previous month.

4. Powell reiterated at the House hearing that the commitment to fight inflation is unconditional. Powell also said that the Fed would not raise its inflation target; When the interest rate hike slows down the economy significantly but fails to reduce inflation quickly, the Federal Reserve is unwilling to switch from interest rate hike to interest rate cut. It will only turn when there is evidence that inflation has eased.

5. Codelco workers went on strike and miners blocked the access to the Ventanas copper smelter.

6. production activities in Europe cooled down. The initial PMI of manufacturing in Germany and France slowed down significantly in June. As manufacturers are affected by insufficient demand, increasingly tight supply chains and soaring prices, the manufacturing growth of Europe’s two largest economies has slowed down significantly, leading to a slowdown in manufacturing activities in Europe. The initial value of Markit manufacturing PMI in the euro zone in June was 52, which is expected to be 53.9, compared with the previous value of 54.6.

7. US manufacturing PMI fell to a two-year low and demand deteriorated significantly. According to the data released by IHS Markit on Thursday, the initial PMI of Markit manufacturing industry in the United States in June recorded 52.4, a 24 month low.

8. the second day of Powell’s congressional hearing: even if the economy slows down significantly, as long as inflation does not decrease rapidly, the Fed policy will not turn. Powell finally uttered the “Eagle” wording in the Fed’s semi annual monetary policy report – the commitment to fight high inflation is unconditional. He said that we should see clear evidence that inflation is cooling down, otherwise we are not willing to change the tightening position of monetary policy. This sent a signal that the United States would continue to raise interest rates aggressively. The Dow and S & P once fell in midday trading, and the recession panic caused the US bond yield to fall sharply. He also pointed out that the era of us regulation of stable currency and digital finance is coming.