Shanghai aluminum continues to be strong and market demand is generally stable

Today's London aluminum oscillation operation, LME three-month aluminum Beijing time at 15:00 at 2044 US dollars / ton, up 4 US dollars, or 0.
20%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River was 16960-17000 yuan / ton, up 210 yuan; Guangdong South Reserve reported 17040-17100 yuan / ton, up 190 yuan; Hua reported 17070-17090 yuan / ton, up 210 yuan
.
Holders actively ship, large households are generally enthusiastic about receiving goods, downstream procurement enthusiasm is not high, and the transaction is average
.

Alcoa reportedly announced on Monday that it had agreed to sell its rolling mill business in Warrick Operations, which produces about 310,000 tons of rolled aluminum per year, to Kaiser Aluminium for a total consideration of $670 million
.
The transaction is expected to close by the end of the first quarter of 2021, subject to regulatory approval
.

Overall, in terms of raw materials, alumina prices fell slightly, and the profits of the electrolytic aluminum industry rose slightly, and production profits are still in a high position from a historical perspective
.
On the demand side, China's downstream automotive and infrastructure data performed strongly in October, indicating that China's economy maintained its recovery momentum and domestic market demand performed better
.

In the future, the supply side with the acceleration of the resumption of production by aluminum enterprises, the production capacity of the supply side is further released, while the downstream start remains stable, and the new production capacity in November further releases a certain suppression of the price of electrolytic aluminum, limiting the upward momentum of aluminum prices, but China's low social inventory still supports aluminum prices
to a certain extent.