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Aluminum Ingot Price Trend (Sept.-Oct.2020)

The overall downstream remains optimistic about September orders, but the pace of demand recovery in the peak season has slowed down significantly. On the whole, due to the accelerating pace of release on the supply side and the slower pace of recovery in the peak season on the demand side, changes in the pace of supply and demand will gradually weaken the action on aluminum prices over time, and there may be limited space for aluminum prices in the peak season. Therefore, it is recommended to change the mindset and follow up the changes in aluminum ingot inventory in a timely manner. Strategically, the medium-term mindset is changed to a bearish treatment.

Conclusion: October, bacially Remain unchange.

First, China’s economic fundamentals continue to improve; second, the U.S. dollar index continues to fall, and non-US currencies including the renminbi have seen an appreciation trend; third, international investors are optimistic about China’s economic prospects and renminbi assets, and foreign capital continues Inflows into China's capital market will drive the appreciation of the CNY.

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