At the close of noon, the main domestic futures contracts were mixed. The consolidated shipping index rose by more than 6%, alumina rose by more than 5%, Shanghai silver rose by more than 3%, Shanghai zinc and industrial silicon rose by more than 2%, and iron ore, styrene (EB), and caustic soda rose by more than 1%. In terms of decline, red dates fell by more than 6%, and eggs, methanol, and ferrosilicon fell by more than 1%.

The market is optimistic about freight rates, and the container freight index (European line) opens sharply.

SDIC Anxin Futures said that SCFIS European routes reported 3070 yesterdaybingoscratchoff.53 points, a sharp increase of 22.2% month-on-month. The underlying index started to provide feedback on the upward trend of spot freight rates. It is expected that the subsequent underlying index will continue to maintain an upward trend. In terms of spot freight rates, HPL raised the European freight rate starting from June 15 to $7000/FEU yesterday. Maersk was relatively conservative. The 23-week opening price announced yesterday was $5500/FEU. The low-priced freight space was sold in a short period of time. It reflects the current market's optimistic expectations for freight rates. It is expected that other airlines will make price increases in the future, but there may be two methods: directly announcing increases and increasing prices with sales volume rising. Attention should be paid to the impact of the transaction of relatively low-priced cabin spaces in the latter method on the underlying index.

Alumina continues to hit record highs. What are the reasons for today's surge?

Xinhu Futures Reviewbingoscratchoff: After adjusting for extreme shocks in the early period, alumina futures have risen again and hit a new high in recent days. The main contract has broken through the 3900, 4000, and 4100 barriers in a row, and once hit the daily limit on Tuesday.

On the one hand, the sharp rise in alumina futures prices was stimulated by industry news, mainly due to the announcement of force majeure by two alumina shipments from Australia. The two factories passively shut down about 1.2 million tons of production capacity in March due to a fire in the natural gas pipeline that caused insufficient natural gas supply. Since the natural gas supply has not yet been restored, the original planned resumption of production in June may be postponed to September. Recently, the situation of tight domestic alumina supply continues. The increase in bauxite supply in Shanxi and Henan is very limited, which inhibits the increase in alumina production in the two places, and no new production capacity has been released in other regions. The consumer side has steadily recovered as Yunnan's electrolytic aluminum continues to resume production, which has led to a weak spot supply and a continued tight circulation supply.

However, compared with the fundamental impact, recent macro sentiment has a greater impact on futures prices. The Federal Reserve's strengthened expectation of interest rates and domestic policies have released multiple positive benefits, which have stimulated market bullish sentiment. Non-ferrous metals have generally surged and continued to hit new highs. Aluminum prices have also given rise. Alumina has also been favored by long funds, and futures prices have increased their volatility. When there is a temporary shortage of significant increase in the supply side in the short term, the spot price of alumina will be firm or high, while the futures price will fluctuate violently under the leadership of macro sentiment. Once market sentiment cools down in the later period, there will be a greater risk of falling back.