(1) In October, China's automobile aluminum alloy wheel export weight was 89,300 tons, an increase of 18.3%. From January to October 2018, the export value of China's automobile aluminum alloy wheels was 3.935 billion US dollars, an increase of 11.6%.
(2) Due to the poor air quality in the country in recent days, the smog weather in Jiangsu and Zhejiang is more, and the shipment of recycled aluminum alloy, which is mainly for automobile shipment, is affected, and the delivery cycle is increased.
(3) The Russian Ministry of Economic Affairs said in a statement that the production time of the aluminum project of the Rusal Taishet smelter was postponed until 2020. RUSAL previously announced that the Siberian smelter will have an annual capacity of 430,000 tons by 2020.
(4) The successful short-circuit test of the 500KA large-scale prebaked electrolytic cell of Meixin Aluminum-Magnesium Alloy Project means that the start-up operation of the 300,000-ton electrolytic aluminum series of Shaanxi Meixin Aluminum-Magnesium Alloy Project has entered the countdown.
The Fed's dovish comments suggest that the number of interest rate hikes will drag down the dollar, and that Xi Jinping once again mentioned the open market and increased imports of goods. This may have signaled a trade reconciliation with the US, and aluminum prices rebounded slightly. However, we believe that under the pressure of Shanghai Aluminum's weak fundamentals, the rebound in aluminum prices is limited, and in the short term, it will be dominated by shocks.