Aluminum under pressure decline, the pace of decline in the later period or slowdown

In terms of inventory, LME aluminum stocks were 1047950 tons, down 875 tons from the previous trading day, and the aluminum warehouse receipts of the previous period were 618929 tons, down 1627 tons
from the previous trading day.

In terms of spot, Shanghai trading concentrated 13930~13990 yuan / ton, 50~30 yuan / ton discount for the month, Wuxi transaction concentrated 13930~13990 yuan / ton, Hangzhou transaction concentrated 14010~14020 yuan / ton
.
Because the price fell too fast, the downstream began to take a wait-and-see attitude towards the price, and the market was dominated by middlemen, traders showed willingness to hold the price, and the overall transaction was not as good as the previous day
.
In the South China market, cargo holders are actively shipping, while middlemen and downstream customers receive goods at low prices, and the market trading activity is high
.

In terms of alumina, Guiyang primary alumina was quoted at 3110 yuan / ton, up 10 yuan / ton from the previous trading day; Shanxi first-class alumina quotation of 3100 yuan / ton, up 30 yuan / ton from the previous trading day; Henan primary alumina quotation was 3100 yuan / ton, up 20 yuan / ton
in the previous trading day.

In terms of news, the US Department of Labor announced on the 31st that the salary growth rate in the third quarter was the highest in ten years, pushing the dollar to break through 97, and metals were under pressure
.
The domestic manufacturing PMI in October was less than expected, and the pessimistic expectation of economic growth made Shanghai aluminum easily fall below
when it came to the 14,000 yuan / ton mark for the third time.
The overnight Politburo meeting of the Central Committee released a signal of stable development, which is expected to have a certain positive effect on the market, and the pace of decline in Shanghai aluminum will slow down
.