It is difficult to make a breakthrough in the short term or have a certain adjustment demand

In terms of spot, LME aluminum spot discount was $6.
50/ton, compared with $0.
50/ton
in the previous session.
The mainstream transaction price in East China is between 15060-15080 yuan / ton, basically the same as the previous day, because of the large number of shipments by holders, the spot premium is around 100 yuan / ton, down from the previous day around 60 yuan / ton, downstream factories to receive goods on demand, because the price has no obvious advantage compared with previous days, so the enthusiasm to buy goods is general
.

In terms of stocks, LME aluminum ingot stocks decreased by 06,100 tonnes to 1,444,000 tonnes
on November 4.
On November 5, domestic aluminum ingot social stocks decreased by 10,000 tons from Monday to 659,000 tons
.

The supply side of electrolytic aluminum maintained a steady rise, the profit of smelters remained high, and the pressure on the supply side in the fourth quarter was greater than that in the previous period
.
However, the inventory has never appeared an inflection point, the last day aluminum ingots went to the warehouse again, the market bearish sentiment has weakened, coupled with Friday's announcement of the winter heating season to boost market sentiment, electrolytic aluminum continued to fluctuate at a high level, and alumina prices remained sluggish, cost support is insufficient, if the inventory inflection point appears, the future market aluminum prices still have room
to fall.

At present, the domestic supply and demand side is in a relatively balanced state, and the recovery of demand since the fourth quarter has further promoted the dematerialization of social inventory, driving aluminum prices upward; However, it should still be noted that the recent results of the US election have not yet been determined, and if there is a large fluctuation in the macro in the short term, aluminum prices may have a certain demand
for adjustment.