Aluminum prices are difficult to withstand bearish pressure, and the market is expected to still have support below

In terms of the external market, Lun aluminum opened at 1920 US dollars / ton in the morning, slightly upward at the beginning of the session touched 1926.
5 US dollars / ton after the trading center slowly moved down, in the afternoon dragged down by domestic Shanghai aluminum, Lun aluminum quickly leaked low to touch 1904 US dollars / ton, into the European trading session, Lun aluminum repeatedly tested the effectiveness of 60-day line support, as of 17:10, Lun aluminum reported 1910 US dollars / ton, short-term is expected to be Lun aluminum wide range between 40/60 days, still need to pay attention to the domestic Shanghai aluminum trend
.

In terms of the market, aluminum futures fell back below the 10,000 mark after the opening of the month
.
Shanghai transaction concentration is 13930-13950 yuan / ton, the discount for the month is 70-60 yuan / ton, Wuxi transaction concentration is 13920-13940 yuan / ton, Hangzhou transaction concentration is 13940-13970 yuan / ton
.
Spot fell below 10,000, holders showed a willingness to hold the price, spot discount narrowed, middlemen mainly for the downstream to receive goods, although the spot fell below 10,000, but on the first day after the holiday, downstream enterprises maintained a wait-and-see mood, Shanghai transaction is general, Wuxi price willingness is weaker than Shanghai, and the transaction is also weaker, the overall transaction shows the first day of return after the holiday
.
In the late afternoon, aluminum stepped diving in the month, the wait-and-see attitude of the holders gradually thickened, the only remaining holders adjusted the price with the market, the quotation was concentrated 13760-13900 yuan / ton, because the aluminum fell too fast, the spot discount was further narrowed
.

In terms of news, Goldman Sachs said in its research note to clients that it expects China to implement supply-side reform policies in the coming months, and global aluminum prices will rise
.
Goldman Sachs expects international aluminum prices to rise to $2,000 per ton in the next 6 months and $2,100 per ton in the next 12 months
.
Analysts at Goldman Sachs said the United States is expected to investigate
total Chinese imports.
During early Asian trading, the price of aluminum on the London Metal Exchange has been hovering around $1,930 a tonne
.
At present, China is the world's
largest producer of aluminum.

Overall, the recent rumors of the resumption of production have dealt a great blow to aluminum prices, and prices have fallen
for several days.
With the implementation of China's supply-side reform policy in the coming months, the industry generally expects that there is still strong support below, believing that the global price of aluminum will rise, so there is no worry that short-term aluminum prices will fall
sharply.
At present, the industry generally adheres to the operation strategy
of "wait and see if it rises continuously, and replenish the stock appropriately if it falls continuously".