The rise in aluminum prices is weak, and it is expected to continue the shock pattern in the short term

On Tuesday, the Shanghai aluminum main month 1901 contract opened at 13815 yuan, the intraday high of 13835 yuan and the low of 13700 yuan, and closed at 13710 at the end, down 80 yuan / ton
from the previous trading day.
Concerns about China's slowing economic growth have clouded the outlook for industrial metal demand, aluminum prices remain low and volatile, Shanghai aluminum fell slightly during the day, the market is long and short game, aluminum prices are weak, and it is expected to continue the shock pattern
in the short term.

Externally, the fall in the dollar index boosted base metal prices, intraday aluminum rose slightly, and upper support focused on $
2,000.
At 15:48 Beijing time, the LME 3-month aluminum was $1938.
5, up $7 from the previous session
.

In the spot market, the spot trading price of Yangtze River was 13710-13750 yuan / ton, down 30 yuan / ton; Guangdong South Reserve reported 13770-13870 yuan / ton, down 10 yuan / ton; Hua reported 13830-13850 yuan / ton, down 10 yuan / ton; The average domestic spot trading price is between
13730-13770 yuan / ton.
Intraday aluminum fell slightly, and cargo holders were still active in shipments, but downstream companies maintained on-demand procurement, and market transactions were average
.

In terms of stocks, Shanghai 341,000 tons, Wuxi 628,000 tons, Hangzhou 99,000 tons, Gongyi 76,000 tons, Nanhai 209,000 tons, Tianjin 51,000 tons, Linyi 25,000 tons, Chongqing 24,000 tons, consumption area aluminum ingot stocks totaled 1.
453 million tons, down 32,000 tons
week-on-week.

Market News:

1.
Recently, 10,000 Spanish workers protested Alcoa's proposal
to close its two local factories.
They even sought government intervention to resolve the issue, but received a response
to the opposition.
According to statistics, the closure of two factories in Alcoa will affect 700 jobs
.

2
.
According to reports, ASI is a global non-profit organization with multi-stakeholder participation, mainly engaged in the development and certification of aluminum industry standards.
The organization is committed to promoting responsible production, responsible sourcing and corporate governance
of aluminium in the aluminium value chain.