The downside risk of the aluminum market has increased, and the price trend is still under pressure

In terms of spot, traders are more active, and middlemen are willing to receive goods; However, only a small number of local downstream purchases are reserved for weekends, and most of them are waiting for
the price performance.
On the whole, the spot trading of aluminum ingots in South China is dominated by traders, and the transaction is average
.
On the whole, the downstream has entered the off-season of consumption, and the consumption performance is average, but the Typhoon Liqima has had a certain impact on the transportation of aluminum water in Shandong, and aluminum prices have been boosted
.

Industry news, Jinaluminum carbon 280,000 tons project new roasting three system ignition started
.
After the three systems are put into use, the monthly output of the new system of anode roasting will increase from 16,000 tons to 20,000 tons, with high yield, full production capacity and conditions
.
The signing ceremony of the 320,000 tons/year electrolytic aluminum plant project of Qiye Construction Group and Bintulu Phase III of Qili Group of Malaysia was held
in Foshan, Guangdong.
The project mainly includes 300 sets of 400KA electrolyzer safety and equipment and material supply
.
The project is expected to be commissioned in June 2020
.

Alumina prices have fallen to a low level or triggered flexible production of enterprises, and their prices will stabilize or even recover, and it is expected that downstream replenishment driven by gold nine silver ten will be positive for aluminum prices, so aluminum prices will be boosted on the cost side and consumer side
.
However, the rise in aluminum prices has prompted the production profits of aluminum enterprises to improve, and the potential pressure on production capacity has caused aluminum prices to continue to rise more cautiously
.

On Friday, the Shanghai aluminum shock pullback, the main contract closed at 14190
.
After the hype of the typhoon event last week, the fall in aluminum prices was not smooth, and the overall trend was volatile
.
However, the weak fundamentals of electrolytic aluminum did not show signs of improvement, last week aluminum ingot inventory shock rebounded, outbound volume continued to fall, consumption off-season inventory is overall in the accumulation cycle
.
Although alumina production has been reduced, the price has not rebounded, the profits of the electrolytic aluminum industry continue to expand, the new production capacity has accelerated, and the supply layer also lacks favorable factors
.
Under the background of weak fundamentals and high external uncertainty, aluminum prices remain bearish in the short term, and short orders are recommended to continue to hold
.