There is pressure above the aluminum price, mainly short-term or wide volatility

Fundamentally, overseas aluminum companies have recently actively planned to expand production and expand, and there is currently no large-scale new production reduction in China, but aluminum companies are not willing to resume production due to cost problems, and because of the impact of the Winter Olympics environmental protection tasks and energy consumption dual control policies, electrolytic aluminum production capacity may be further compressed
.

Consumers on the consumer side ship more than high prices, the receiver actively entered the market to purchase, the overall transaction is general, due to the reduction of the impact of power cuts and the obvious pullback of aluminum prices, the willingness to replenish downstream warehouses has increased, and the operating rate of downstream enterprises has also continued to pick up, but due to the shortage of automotive chips and the real estate recession and other factors, the degree of consumption recovery is relatively limited
.

In terms of inventory, the domestic aluminum ingot social library began to accumulate again
.
In terms of price, it is necessary to pay attention to the changes in the lower limit of production in the heating season, but considering that it is difficult for terminal consumption to improve and drag down aluminum prices, it is recommended to be cautious and bearish
in the short term.

Under the influence of the dual-control policy, electrolytic aluminum production capacity continued to be limited, and the daily output of primary aluminum declined for six consecutive months, but in October, primary aluminum production increased month-on-month, and monthly production ended five consecutive declines, and some power relief areas have a certain probability of resuming production, but it is difficult to release
on a large scale in the short term.

At the same time, the latest data show that electrolytic aluminum has accumulated again, and coal continues to fall, the atmosphere of industrial products is pessimistic again, superimposed on the performance of aluminum inventories on the two major exchanges, the weekly inventory of Shanghai aluminum continues to increase to a five-month high, making aluminum prices under pressure, short-term aluminum prices or wide volatility
.