Electrolytic aluminum In October (31 days), the national electrolytic aluminum output was 3.114 million tons, an increase of 3.5% year-on-year. In the first 10 months of this year, China's total output of electrolytic aluminum was 30.166 million tons, down 0.8% year-on-year. As of the end of October, the annual production capacity of domestic electrolytic aluminum operation was 37.48 million tons, and the annual idle production capacity was 4.82 million tons. The overall operating rate was 88.6%. The overall operating rate dropped 0.3 percentage points from the end of September. Domestic electrolytic aluminum supply continues to be in the parallel phase of production and production reduction. Although the production capacity of the production reduction (including planned production reduction) has exceeded 1.5 million tons since the beginning of the year, the current operating capacity scale has not continued the contraction momentum from July to August, and the production capacity has been started since September. Start slowly increasing. It is worth noting that the aluminum ingot output is not rapidly increased during the production of new capacity. The aluminum plant will digest part of the aluminum water during the start-up process, thus limiting the amount of ingot. After entering November, some low-cost aluminum plants in China's high-cost production areas such as Gansu, Qinghai, Henan and other provinces will have a reduced production trend, while new capacity in Inner Mongolia, Guangxi, Yunnan and other provinces will continue to be put into production, and production in November (30 days) will continue. It is expected to be 3.03 million tons, a year-on-year growth rate of 4.3%, but the cumulative output supply growth rate is expected to be -0.4% in the previous November, and has not turned positive.