The price of aluminum remained weak and volatile, and the fundamental weakness caused the macro-recovery to boost the price of aluminum. In the news, 12 integrated electrolytic aluminum, alumina and coal-electric aluminum integrated enterprises in Guangxi have obtained sewage discharge permits in early November. With the improvement of environmental protection equipment in various places, the production capacity of electrolytic aluminum in the market is expected to continue to weaken. Although the current domestic aluminum ingots remain in the destocking state, the current supply gap is not enough to reduce the high inventory, and the downstream gradually enters the seasonal off-season. It is expected that the domestic aluminum price will remain at the end of 2018 to the first quarter of 19 Relatively weak. The risk point is that aluminum alloy prices may rebound in stages due to loss factors, but the rebound price will still need to see whether there will be a reduction in production of electrolytic aluminum enterprises in the market. At present, the reduction in production has not yet formed a scale.