The downstream gradually enters the off-season of consumption, and aluminum lacks rebound momentum

In terms of inventory, LME aluminum stocks were 1272925 tons, down 200 tons from the previous trading day, and the aluminum warehouse receipts in the previous period were 515901 tons, down 630 tons
from the previous trading day.

In terms of spot, the transaction price in Shanghai is between 13280~13300 yuan / ton, low price is difficult to trade, spot discount continues to narrow, the monthly discount is between 20 ~ 10 yuan / ton
.
The transaction price in Wuxi is concentrated in 13280~13300 yuan / ton, and the transaction price in Hangzhou is concentrated between
13300~13310 yuan / ton.
The mainstream transaction price fell by nearly 40 yuan / ton compared with the previous trading day
.
During the day, a large middleman continued to receive a large number of goods in East China at a price higher than the market's psychological expectations, receiving more than 6,000 tons in East China alone.

Downstream pick-ups were mediocre and there were no significant highlights
.

In terms of alumina, Guiyang primary alumina quotation was 2985 yuan / ton, down 10 yuan / ton from the previous trading day; Shanxi first-class alumina quotation was 2925 yuan / ton, unchanged from the previous trading day; Henan primary alumina quotation of 2935 yuan / ton, unchanged
from the previous trading day.

In terms of news, U.
S.
stocks were dragged down by Apple and manufacturing data, U.
S.
stocks were hit hard, metal performance was differentiated, and low-level aluminum was favored by buying and rebounded
sharply.
In the industry, the supply remained stable, and the spot discount narrowed to 10 yuan / ton, indicating that the willingness to follow the decline weakened, but the downstream gradually entered the consumption off-season, and aluminum prices lacked rebound momentum
.
As the scale of supply has not yet expanded, the downstream has entered the traditional off-season, and the market reacts sensitively to macro data, and after digesting a round of weak global manufacturing PMI data in the short term, aluminum prices are sorted out at a low level
.