Today, Shanghai Aluminum's 0511 contract opened at 16,560 yuan, with a higher price of 16,560 yuan and a lower price of 16,540 yuan. Closed at 16,550 yuan. The turnover was 1378 lots throughout the day, and the volume was basically the same as last Friday. From the domestic situation, from January to July this year, China's alumina production was 4.67 million tons, a year-on-year increase of 17.5%. In the first half of this year, 60% of the aluminum smelters operating in China were in a loss state, resulting in large losses in the entire industry mainly due to the rise in alumina prices and the country’s regulatory policies. It is said that China Aluminum will continue to raise the price of alumina. This is undoubtedly worse for smelting companies. At the same time, these actions will have a crucial impact on the integration of the domestic aluminum industry and the reshuffling of the aluminum market. Due to the lack of liquidity and other disadvantages in Shanghai aluminum market, the volatility of the futures price is relatively small, and both long and short sides are cautious. Even if there are some major bullish or bearish factors in the market, the market will maintain a small fluctuation in the operating status. In the LME market, copper is a relatively active main product, and the market is more concerned with copper. In a certain sense, the trend of copper operation will affect the trend of other basic metals. The strong increase in copper last Friday will naturally have an impact on aluminum futures. As the current aluminum market is in a short-term decline. Therefore, the market is more cautious about the increase in the price of the period, which is reflected in the shrinking volume. If the market does not have information that can have a significant impact on the market, this cautious sentiment will continue to be maintained. Operational advice: short range trading.