Consumption expectations remain weak during the weakening period, and aluminum

In terms of external trading, LME aluminum inventory was 1056150 tons, an increase of 747,500 tons compared with the previous trading day, and the aluminum warehouse receipt in the previous period was 598723 tons, a decrease of 4,180 tons
from the previous trading day.

In terms of spot, the transaction price in Shanghai is concentrated at 13720~13740 yuan / ton, the discount for the month is 10 yuan / ton ~ premium 20 yuan / ton, the transaction price in Wuxi is concentrated 13720~13740 yuan / ton, and the transaction price in Hangzhou is concentrated in 13730~13750 yuan / ton
.
Near the delivery period aluminum ingot to discount to premium, traders are active in trading, close to the delivery period shipments are not reduced, downstream receiving is acceptable, East China transaction today is slightly better
than yesterday.
In the late afternoon, aluminum stabilized and rebounded, the trading price in East China was concentrated at about 13750~13770 yuan / ton, traders recognized the price, and still showed positive trading willingness before the stop, and the afternoon market transaction was mostly the source of
warehouse receipts.

In terms of alumina, Guiyang primary alumina quotation was 3140 yuan / ton, unchanged from the previous trading day; Shanxi first-class alumina quotation of 3200 yuan / ton, unchanged from the previous trading day; Henan first-class alumina quotation of 3200 yuan / ton, unchanged from the previous trading day
.

In terms of news, the UK reached a consensus on Brexit at the technical level, the euro, the pound rebounded to suppress the dollar, commodity prices once rebounded, but the October Chinese financial credit data released later was significantly weaker than expected, commodities once plunged, macro events and data had a greater
impact on the plate.
In terms of industry, India's Vedanta announced plans to increase its production capacity from 1 million tons to 6 million tons by spring 2020, making India a new supply growth point
.
The contraction in domestic supply has not widened further, while consumption expectations are weakening and aluminum remains weak
.