November 18 aluminum market noon comment

Yesterday's coal rebounded, Lun aluminum rebounded sharply to close in the sun, Shanghai aluminum opened high overnight, rushed back down to close small yin, closed at 18630.
Shanghai aluminum trading positions are rising, market sentiment is optimistic
.
Policy factors have led to inactive trading of Shanghai aluminum, and the future market may continue to rebound with the gradual stabilization and rebound
of Lunlun aluminum.
Upper pressure 20500, lower support 18000
.

This week's aluminum ingots accumulated slightly, an increase of 16,000 tons from last week to 1.
023 million tons, Wuxi, Gongyi and Shanghai contributed the main increase, the South China Sea region performed to warehouse, there is no new news of production reduction on the supply side this week, but the dual control policy of energy consumption has not been expected to ease, it is difficult to see new investment and resumption of production increments during the year, and it is expected that the supply side will remain in short supply; On the consumer side, the downstream new orders have diverged to a certain extent, and the new orders of cable, strip and foil companies are good, and subject to the difficulty of cash flow collection, the fermentation of chip problems has led to a slightly weak order situation of building profiles and aluminum alloy enterprises, but overall, the impact of the power rationing policy continues to improve so that consumption gradually recovers, but the extent of improvement remains to be seen, and aluminum prices are expected to remain volatile and weak
.