Shanghai aluminum trend is strong, the upper space is limited

Today's Lun aluminum trend is stronger, LME three-month aluminum Beijing time at 15:00 at 1917 US dollars / ton, up 6 US dollars, or 0.
31%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 15340-15380 yuan / ton, up 180 yuan; Guangdong South Reserve reported 15340-15400 yuan / ton, up 260 yuan; Hua reported 15440-15460 yuan / ton, up 170 yuan
.
The enthusiasm of large households to receive goods is general, and the downstream fear of heights and rigidity needs to be mined less, and the transaction activity has declined
.

On a macro front, Fed officials called for more fiscal stimulus as a threat to economic performance over the next two quarters, but McConnell, who was re-elected Republican leader in the Senate, said the two parties were still divided
on the size of the stimulus.
The industry operating rate continues to rise, and the current industry operating capacity is at a high level, and the later output will gradually be
reflected.

In terms of demand, it is about to enter the seasonal traditional off-season, as well as the uncertainty of the heating season policy, downstream demand continues to slow down, and the order volume of processing enterprises decreases
.

On the whole, short-term inventories are hovering at a low level, and the off-season has not accumulated as expected, bringing some support to aluminum prices, and short-term overseas supply is tight to promote the strong operation of aluminum, but over time, changes in the rhythm of supply and demand will make aluminum ingots return to the accumulation cycle, maintaining the medium-term bearish idea
.
Short-term wait-and-see
.