Aluminum remains volatile and awaits the guidance for the implementation of production cuts

In terms of inventory, LME aluminum stocks were 1266575 tons, an increase of 1325 tons from the previous trading day, and the aluminum warehouse receipt of the previous period was 521033 tons, a decrease of 2441 tons
from the previous trading day.

In terms of spot, the transaction price in Shanghai in the first trading stage is between 13600~13610 yuan / ton, the discount for the contract of the month is between 80 ~ 70 yuan / ton, the transaction price in Wuxi is concentrated in 13600~13610 yuan / ton, and the transaction price in Hangzhou is concentrated between
13620~13630 yuan / ton 。 Large household receipts decreased significantly, because aluminum prices rose from last week, holders recognized that the price superimposed inventory clearance consideration intraday shipments are very positive, because some traders do not leave inventory at the end of the year, so trading is more cautious, mainly shipments, and began to issue next month's ticket goods, intermediaries between trading is not as active as in the early stage, downstream basic on-demand procurement, performance is average
.

In terms of alumina, the average price of alumina was 3005 yuan / ton, down 8 yuan / ton from the previous trading day; The average price of alumina in East China was 3030 yuan / ton, unchanged from the previous trading day; The average price of alumina in central China was 3020 yuan / ton, unchanged from the previous trading day; The average price of alumina in North China was 2980 yuan / ton, down 20 yuan / ton from the previous trading day; The average price of alumina in South China was 3025 yuan / ton, unchanged
from the previous trading day.

The sharp decline in crude oil in the overnight market and the recent intensive delivery of the market dragged down the external pan of Lunaluminum, which hit a recent low, and maintained a slightly stronger trend in China driven by the joint production reduction information
.
Qingtongxia Aluminum plans to reduce production by 50,000 tons, but no other smelter has yet to implement more production reduction plans, the spot market performance is average, the discount range has expanded to 80 yuan / ton, and the inventory on Monday fell by 04,000 tons from Thursday, the decline has narrowed significantly
.
In the short term, aluminum prices remain volatile, waiting for guidance on the implementation of production
cuts.