Lack of positive support Aluminum prices rose weakly

Recently, the inventory of Lun aluminum rose for 7 consecutive trading days to hit a three-month high, and the high inventory put pressure on the price of Lun aluminum; Due to the two-day trade negotiations between China and the United States during the week, the market was optimistic, and the non-ferrous metals market benefited from optimism, and the price of London aluminum rebounded
.
The price trend of London aluminum shows ups and downs
.
The market mainly focuses on the $1800 support level
.

The pressure on oil prices has dragged down the sentiment of the commodity market, and the current spot market has sufficient supply but the downstream receiving performance is flat, and the trend of aluminum prices is limited; The decline in domestic inventories provided some support for aluminum prices, and Shanghai aluminum prices rose
.

In terms of the market, spot aluminum price trend maintained the trend of first falling and then rising, the weekly average quotation of Changjiang spot AOO aluminum ingots was 14102 yuan per ton, down 2 yuan / ton per week, and the average price of Yangtze spot aluminum per ton in the previous week was 14180 yuan, down 78 yuan / ton, down 0.
55%
month-on-month.

In terms of inventory, the trend of aluminum inventory in Nerun maintained first increase and then decrease, and the latest inventory was reported 1266575 metric tons, with a total increase of 16,325 metric tons, an increase of about 1.
3%; The total aluminum stock on the Shanghai Futures Exchange this week was 601362 tons, down 20,545 tons, or about 3.
3%,
from last week.

Aluminum market dynamics:

1.
Australian bauxite production will increase by 15% in 2019, higher than the 4% increase in 2018
.

Capital expenditures over the next three years are expected to be R$80 million ($20 million), of which the aluminum industry accounts for 69%.

Looking forward to the future market, the tense international situation has heated up the market's risk aversion, and the lack of favorable support for the rise in aluminum prices is weak, and the trend of spot aluminum prices in the week after the holiday remains range-bound
.
Aluminum prices are supported by the improvement of domestic fundamentals and the cost side, the trend is relatively firm, and it is expected that the trend of spot aluminum prices will stabilize
next week.