Aluminum prices remain volatile and follow up on peak season consumption levels

Today's Lun aluminum trend is volatile, LME three-month aluminum Beijing time at 15:01 at 1847.
5 US dollars / ton, up 2 US dollars, or 0.
11%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 14920-14960 yuan / ton, down 120 yuan; Guangdong South Reserve reported 14860-14920 yuan / ton, down 60 yuan; Hua reported 15050-15070 yuan / ton, down 100 yuan
.
Holders are selling at high prices, supply remains tight, middlemen replenish long orders, and the market receives more and less
.

China's economic data was still good yesterday, but the GDP in the third quarter was slightly lower than expected
.
The global epidemic continues to spread, the US fiscal stimulus package is still not progressing, and US officials say that the last 48 hours will be limited
.
The market was pessimistic about the US stimulus and economy, and the US stock market plunged overnight and non-ferrous metals rushed back down
.

In terms of supply, aluminum companies are still steadily advancing the resumption of production plan, the current profit of aluminum enterprises is relatively considerable, the fourth quarter of production capacity release is more, and the release speed is faster
.
In terms of demand, the downstream is normally replenished after the holiday, and the market consumption has not increased significantly, and some regions have introduced measures for peak production in autumn and winter in the heating season, which may affect the production of downstream processing enterprises, and then affect market demand
.

Overall, short-term demand is maintained, and inventories are still low, but as downstream demand directly shifts to the traditional off-season, aluminum ingots will return to the accumulation cycle
.
The change in the rhythm of supply and demand has made aluminum prices gradually enter a downward cycle
over time.
Maintain the medium-term bearish thinking
.