Post-festival local aluminum market is dull

During the National Day holiday, LME aluminum steadily took a good step. The overnight price broke through the integer mark of 1900 US dollars and was reported at US$1907.5. In the same period, the aluminum price in the Guangdong market basically remained at the pre-holiday price, and the overall situation did not change much. Affected by the negative impact of the initiative of the local major suppliers to lower the quotation today, the atmosphere of the aluminum market was slightly weaker and the market trading was also affected. The trading volume was slightly weaker than the previous two days. However, due to the fact that Shanghai Aluminum has not yet opened on the weekend, and the volatility of aluminum prices in the Shanghai market is very small, in the absence of other market price guidelines, the local aluminum price can still be maintained at Friday's level, today's trading range is at 16680-16780 yuan. /Ton. Since the pre-holiday local aluminum price increase was mainly driven by the continuous increase in prices by suppliers, it is expected that this major supplier’s initiative to lower the quotation will have a more pronounced impact on market sentiment, and then suppress it. At market prices, aluminum prices in recent Japan may experience a slight decline.