In the news, October CPI increased by 1.3% year-on-year, and the growth rate slowed by 0.3 percentage points from September; PPI contracted by 5.9% year-on-year, which was flat compared with September. In the third quarter, Chinalco lost 931 million yuan in the first three quarters, including a loss of 959 million yuan in the third quarter. In terms of spot, on November 10, Shanghai spot transaction concentration was 10230-10240 yuan/ton, discounted water 110 to discounted water 100 yuan/ton, Wuxi spot transaction concentrated 10230-10250 yuan/ton, Hangzhou Spot transactions concentrated 10220-10240 yuan / ton. After the price of aluminum fell sharply, the holders of the spot market did not reluctant to sell, the shipments continued, and the market supply was abundant. At the same time, the downstream processing enterprises were obsessed with the stocks, and the middlemen received the goods, which was also reduced by the amount of goods they received. After the quotation of the holders fell, the transaction price continued to decline, and the Hangzhou area once had a price of around 10,210 yuan/ton. The overall market conditions in East China were relatively sluggish, and the actual discount on spot transactions was still around 100 yuan. The spot transaction price in South China is concentrated at 10250-10260 yuan / ton, which is 30-10 yuan / ton higher than the East China spot price. The premium rate has narrowed significantly. The local market has abundant supply. The downstream enterprises that received the goods slightly last week were mainly wait-and-see, and the performance was more cautious. The offer of the holders tightened before the early afternoon, and the transaction was concentrated at 10,270 yuan/ton, due to the downstream increase in wait-and-see mood, South China Overall transaction volume has declined. According to the market judgment, the US dollar index is expected to rise at a high level, and the metal price is still under pressure. Affected by weak macro data and continued to collect raw aluminum export tax news, aluminum futures fell sharply yesterday. The overcapacity of domestic commodities and the deflation have intensified. The fundamentals of the aluminum market are still weak. It is expected that the downward trend of Shanghai Aluminum will remain unchanged, and the short-term momentum will remain weak and volatile.
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