Aluminum volatility downward during the week, near the weekend slightly warmed up

This week, Lun aluminum first suppressed and then rose, because the early decline was too large, although there was a recovery in the later period
, it is still difficult to recover all the decline.
At the beginning of the week, due to the sharp rise of U.
S.
stocks, the dollar index went high, and on Wednesday rushed to the highest level of 97.
2 in the week, putting pressure on non-ferrous metals, and Lun aluminum was weak to rise, gradually moving away
from the $2,000 / ton mark 。 In addition, overseas demand continues to weaken and alumina prices are in a downward channel, London aluminum is difficult to get strong support from fundamentals, under the influence of macro bearish atmosphere, it continued to go low, and recorded the lowest level of the week at 1953.
5 US dollars / ton on Wednesday, refreshing the lowest price since early August last year, near the weekend, Chinese and American leaders a phone call to encourage market trading confidence, U.
S.
stocks soared, superimposed on the U.
S.
index began to fall high, macro trading atmosphere improved, the outer metal was red across the board, Lun aluminum took advantage of the trend to get back up, recovering some of the previous declines , Lun aluminum returned to the $2,000 / ton mark, the center of gravity slightly lower
than last week.

Fundamentally, this week in some regions such as Henan, Shandong and other provinces and cities autumn and winter production restriction plans have been issued one after another, confirming the fact that this year's nonferrous metal industry production restrictions are less than expected, coupled with the recent narrowing of inventory decline and consumption near the end of October still no signs of recovery, Shanghai aluminum lost fundamental support momentum, the early aluminum plant production reduction news did not form a lasting momentum, Shanghai aluminum then performed passively, after the concentrated release of short news, Shanghai aluminum directly leaked low below the 10,000 mark, the main 1901 contract recorded the lowest price of the week on Thursday 13835 yuan / ton
。 Near Friday, the colored plate collectively turned red, and Shanghai aluminum was driven by a slight recovery, but the increase was not as high as other metals
.
This week, the Shanghai aluminum main 1901 contract opened at 14155 yuan / ton, and the daily close was 13970 yuan / ton
.

This week's spot trading price basically followed a unilateral downward path
.
The transaction price in Shanghai is concentrated between 13790~14120 yuan / ton, the transaction price in Wuxi is concentrated between 13790~14120 yuan / ton, and the transaction price in Hangzhou is concentrated between
13820~14150 yuan / ton.
The supply of goods this week is still sufficient, the downstream transaction at the beginning of the week is acceptable, the mid-week due to the aluminum fall is too fast, the volatility is violent, the market quotation is slightly chaotic, and the transaction is not much
.
In the later period, due to the continuous decline of aluminum in the future, the mainstream transaction price of the market fell unilaterally, and the downstream began to hold a wait-and-see attitude towards the price, the speed of buying goods slowed down compared with the previous period, and the willingness of middlemen to receive goods at low prices increased, some traders on the one hand due to the end of the month settlement to reduce shipments, on the other hand, because the aluminum price is too low seems to have a willingness to raise prices, performance and reduce shipments
.
On the whole, this week's transaction is more general, the downstream is basically on-demand procurement, and the stocking behavior is not obvious
.