It may still be difficult to reverse the weakness of Shanghai aluminum and it is difficult to have an effective rebound in the short term

In terms of the external market, yesterday's rise in Lun aluminum inventory shows insufficient demand, lack of support aluminum prices weak downward, today Lun aluminum under pressure to fall, the lower support focus on $2,000
.
At 15:49 Beijing time, LME 3-month aluminum $2017, down $11 from the previous session
.

In terms of the market, today's spot trading price of Yangtze River is 13900-13940 yuan / ton, down 50 yuan / ton; Guangdong South Reserve reported 13940-14040 yuan / ton, down 40 yuan / ton; Hua reported 14020-14040 yuan / ton, down 50 yuan / ton; The average domestic spot trading price is between
13910-13950 yuan / ton.
Today's aluminum fell slightly, and the holders shipped steadily, but the downstream enterprises were more wait-and-see and maintained on-demand procurement, and the market transaction did not improve
.

Market news, 1.
China Zhongwang released its financial report for the third quarter of 2017, the group's overall revenue reached RMB 12.
71 billion, up 2.
0% over the same period last year, and the overall net profit reached RMB 2.
34 billion
.
The role of product mix optimization on performance was gradually reflected in the third quarter, and Zhongwang's revenue and profit increased by 12.
5% and 1.
4%,
respectively, compared with the same period last year.
2.
The American Aluminum Association released the latest aluminum statistics; Aluminum demand in the U.
S.
and Canada was 26.
4 billion pounds in 2016, up 2.
6 percent from the previous year, the seventh consecutive year of demand growth
, the data showed.

Near the end of the year, the capital surface shows that it is more tight, coupled with the fundamentals and news are not favorable to the impact of more news on the aluminum market, and the demand in the off-season declines, Shanghai aluminum inventories have repeatedly reached new highs, short-term aluminum prices are expected to have an effective rebound, the weakness of aluminum prices may still be difficult to reverse, or may challenge the support
at 14,000 yuan.
Technically, the main KDJ dead fork and MACD dead cross of Shanghai aluminum temporarily continue to be pressed at 14,500 yuan, and the support moves to 14,000 yuan
.