The macro sentiment is positive in the expectation of overseas interest rate cuts and the stable and favorable policy environment at home. On the supply side, bauxite production is low, alumina prices are strong, the cost side is supporting the rise, Yunnan plans to resume production of 520,000 tons, the current ingot warehouse is still accumulating, demand enters the peak season to boost consumption, but the degree of improvement is still to be proved false, Shanghai aluminum prices are firm before high, the trend is still more.