Aluminum prices fluctuated in a narrow range at a high level, and continued upward pressure began to appear

In terms of external trading, Lun aluminum opened at 1910 US dollars / ton in the morning, slightly floating up at the beginning of the session to test the highest intraday high of 1913 US dollars / ton, because there was no upward driving force, it briefly hovered in the afternoon and dipped to 1906 US dollars / ton
。 After entering the European trading session, the LME released metal inventories, Lun aluminum in the premise of last week's large increase, the first day of this week again slightly increased, so far has accumulated to 1266575 tons, high inventory background, Lun aluminum upward weakness, European market continued to dip, finally recorded the lowest of the day of 1899.
5 US dollars / ton, again refresh since mid-July last year, due to the limited space below, Lun aluminum then from the low began to rise, the recovery is faster, but still hindered at 1910 US dollars / ton, as of 17:50, The high level of Lun aluminum fell slightly, closing at $1907 / ton, down $0.
5 / ton, or 0.
03%.

In terms of the market, aluminum futures opened the month, the price of the first trading stage first fell and then rose, and the second trading stage was range-bound, which seemed to continue to rise
.
In the first trading stage, the transaction price in Shanghai was between 13600~13610 yuan / ton, the discount for the contract of the month was between 80~70 yuan / ton, the transaction price in Wuxi was concentrated at 13600~13610 yuan / ton, the transaction price in Hangzhou was concentrated between 13620~13630 yuan / ton, and the mainstream transaction price increased by nearly 50 yuan / ton
compared with the previous day 。 The number of large accounts received during the day decreased significantly, because the price of aluminum rose compared with last week, the holder recognized that the price superimposed on the inventory to consider shipments is very positive, because some traders do not leave inventory at the end of the year, so the transaction is more cautious, mainly shipments, and began to issue next month's tickets, intermediaries are not as active as in the early stage, downstream basic on-demand procurement, the performance is more general
.

In terms of news, Shandong Binzhou announced the list of autumn and winter peak shift production enterprises, Shandong Weiqiao alumina production capacity limited to 2 million tons, Shandong Qixing, Lubei marine biological alumina stop a line, autumn and winter peak shift production policy began to gradually affect the supply, the price of alumina in the later period or due to production restrictions There is an expectation of rise, the cost side is supported, and affected by the low aluminum price, the enthusiasm for new production capacity is not high, and the supply side is weak
.

On Friday, electrolytic aluminum backbone enterprises announced that they would reduce production by 800,000 tons, and aluminum prices were slightly resistant to falling
compared with other non-ferrous varieties.
However, the short-term reduction of aluminum plant production does not support aluminum prices obviously, aluminum water pumping increases the amount of ingots, and the market supply is still abundant, which still puts pressure
on aluminum prices.
In the future, supply and demand will face two weak situations, the downstream gradually enters the seasonal off-season, alumina and anode prices began to decline so that the primary aluminum cost support is loosened, social inventory is still at a high level, aluminum prices will still be weak, the price is concerned below 13,500 yuan support
.