Consumption is still weak and the aluminum market remains weak before the holiday

1.
In 2018, the output of electrolytic aluminum in the United States was 897,000 tons, an increase of 21%
year-on-year.
It is understood that the American Aluminum Association announced that the total output of electrolytic aluminum in the United States in 2018 was 897,000 tons, an increase of 21%
year-on-year.
As of the end of December 2018, the annual operating capacity of electrolytic aluminum in the United States was 1.
146 million tons/year, an increase of about 400,000 tons from the end of December 2017
.

2.
Tongchuan, Shaanxi: Two new group companies
were established.
Today, the Tongchuan Municipal People's Government issued an announcement that two large-scale joint-stock enterprises Tianjian Jiufang Technology Co.
, Ltd.
and Mingdi Group Co.
, Ltd.
have successively settled in Tongchuan, opening a new model of economic development of
Tongchuan headquarters.
Among them, Mingdi Group mainly produces aluminum profile products, is a large-scale aluminum profile industry group integrating aluminum profile product design, research and development, processing, production and after-sales service, with an annual production capacity of more than 200,000 tons
.

3.
In 2018, the total output of electrolytic aluminum in Canada was 2.
924 million tons, a year-on-year decrease of 9.
0%.

It is understood that the total output of electrolytic aluminum in Canada in 2018 was 2.
924 million tons, a year-on-year decrease of 9.
0%.

By the end of 2018, Canada's annual electrolytic aluminum operating capacity was 2.
89 million tons/year, a decrease of about 288,000 tons from the end of 2017
.

Inventory changes: LME inventory 1.
304 million tons (0.
08), aluminum ingot social stock 1.
205 million tons (-1.
3), aluminum ingot out of 159,000 tons (1.
9), aluminum rod inventory 101,500 tons (-0.
1), aluminum rod out of 39,000 tons (0.
25).

Technical analysis: Shanghai aluminum fluctuated intraday yesterday, fell slightly in overnight trading, and the main contract closed at 13370
.
From the perspective of the Shanghai aluminum plate, the short arrangement of the moving average has not been broken, the MACD green column has shrunk, the price is located in the lower Bollinger band, the intraday trading volume has decreased, and the plate has remained weak
.

The aluminum ingot inventory announced yesterday fell slightly, but the decline was significantly narrower than the previous period, and the law of accumulated inventory during the Spring Festival still applies
.
On the supply side, more than 200,000 tons of new capacity has been put into operation in January, and there is no news of production cuts, and there is no rigid shortage
of supply from the perspective of the new capacity launched during the year.
On the demand side, consumption remained weak, and there were no bright spots
in the first quarter as a whole.
The fundamentals of aluminum remained weak before the holiday, and the short orders in the early stage of the operation continued to be held, and the lower part of the period remained at 13000
before the holiday.