The center of gravity under the aluminum period is raised at a low level, and the rebound space is relatively limited

In terms of external trading, Lun aluminum opened at 1727 US dollars / ton
in the morning.
During the Asian session, London aluminum maintained a narrow range of oscillation, falling below the 5-day moving average low before noon to touch 1722 US dollars / ton, as of 15:00 Lun aluminum was reported at 1723.
5 US dollars / ton
.
During the European session, Lun aluminum continued to do a narrow range around the 5-day moving average, touching a high of $1728 / ton, and as of 16:46, Lun aluminum reported $1727 / ton
.
On the whole, due to the increase in overseas alumina supply pressure, the non-ferrous metal plate Lun aluminum is obviously weak, although the center of gravity of the US index has shifted downward, it is difficult to boost the price of Lun aluminum, and the pressure on the upper 10-day moving average is greater
.
The phased rebound of domestic Shanghai aluminum gives Lun Aluminum some support, but it is not enough to support its rebound to make up, and it is expected that Lun Aluminum will continue to maintain range fluctuations below the 10-day moving average
.

In the spot market, aluminum futures maintained range-bound
volatility before noon of the month.
In the morning, due to the tight supply of circulating goods, the holders did not ship much, the market quotation was chaotic, concentrated between 13960-13990 yuan / ton, but the actual transaction was not much, traders had to wait and see, a large household received a small amount of goods at a price of 13950 yuan / ton in the morning, after 10:30, the market transaction price was stable around 13970-13990 yuan / ton, and the premium on the plate was 60-80 yuan / ton, the premium rose nearly 40 yuan / ton from the previous day, and the absolute price rose by 90 yuan / ton from yesterday.
Although the large customers subsequently raised their quotations, the planned purchase volume was not full
.
The price in Hangzhou is between 13980-13990 yuan / ton, and the transaction is general
.
Under the high prices in Shanghai and tin in the later period, the shipments of holders increased, but the willingness to raise prices was strong, the willingness of middlemen to receive goods was strong, and the trading between the two sides was active
.

According to statistics, the national mainstream consumption area electrolytic aluminum inventory fell by more than 60,000 tons compared with last Thursday, the market is expected to continue to destock, the market supply has become tight, the past two days to receive goods is very positive, and some traders feedback that the national VAT system upgrade at the end of the month will affect the issuance of monthly tickets, because invoices and long-term delivery considerations, tend to hurry up the purchase of monthly tickets
.
Downstream manufacturers mainly take goods on demand, and traders do not have many bulk goods downstream, mostly to deliver other traders for transactions or downstream long orders
.
In the late afternoon, aluminum maintained a narrow range of fluctuations, a small number of holders quoted at 13970-13980 yuan / ton, the opposite plate premium around 70 yuan / ton, the afternoon market transaction atmosphere is not high, the actual transaction is not much
.

During the day, the inventory of social aluminum ingots fell by 61,000 tons week-on-week, in line with the market's expectation that consumption would remain stable, and Shanghai aluminum recorded three consecutive sunshine
.
The electrolytic aluminum market is facing the contradiction between the recent stable consumption and the pressure of long-term supply increase and cost downward movement, although the lower center of gravity rises at a low level, but the rebound space is relatively limited, it is recommended to increase short-term band operations
.