The trend of the aluminum market is weak, suppressed by macro pessimism

In the external market, the fundamentals are light, lack of support, aluminum prices rose weakly, intraday aluminum fell slightly, and the lower support focused on $
1700.
At 15:47 Beijing time, LME 3-month aluminum was $1,788, down $6.
5/ton
from the previous session.

In terms of the market, the spot trading price of Yangtze River was 13260-13300 yuan / ton, down 20 yuan / ton; Guangdong South Reserve reported 13330-13430 yuan / ton, down 70 yuan / ton; Hua reported 13360-13380 yuan / ton, down 40 yuan / ton; The average domestic spot trading price is between
13260-13300 yuan / ton.
Aluminum fell slightly during the day, and the holders shipped positively, but the downstream enterprises received flat goods, and the market transaction was average
.

Industry News:

1.
The Alunorte incident in Brazil (hereinafter referred to as the "Hydro incident") of Hydro Company has disturbed the overseas alumina market, and the price of alumina has fluctuated, and the shortage of overseas supply has become more serious, and the same period has also promoted roller coaster changes
in aluminum prices.

According to reports, Vedanta plans to provide $250-300 million in financial support
for the Lanjigarh alumina refinery in Orissa, India, in the next fiscal year.

The recent cost side has been moved down, helping the industry to narrow its losses, which will also drag down the center of gravity of
aluminum prices.
Overall, domestic electrolytic aluminum overcapacity, and excessive inventory still suppresses spot performance
.
It is expected that aluminum prices will continue to weaken this week, and the logic of relying on cost support is still not valid
.
The operation is still a bearish idea
.