The US non-farm data greatly exceeded market expectations, demonstrating the resilience of the US economy, the Federal Reserve official Bias Eagle spoke, firmly on the realization of the inflation target, and the expectation of the time window and the number of interest rate cuts within the year changed. The domestic continued to release positive policy signals, the domestic PMI data in March returned to the expansion range, and market confidence has been restored. The supply of electrolytic aluminum increases and decreases, Guizhou cuts production, Yunnan plans to resume production, the current drought in Yunnan is still not alleviated, the ratio of aluminum to water increases, casting ingot is difficult to increase substantially, and the overall electrolytic aluminum production remains stable. Before the Qingming Festival downstream enterprises according to their own orders on demand inventory, aluminum bars appear a small increase, aluminum ingots to maintain the trend of storage, from the downstream demand point of view, even during the peak season of gold, silver, high aluminum prices under the pressure of traditional industry orders is still flat, aluminum plate with foil, aluminum rod and industrial aluminum orders performance is better, the fundamental support is strong. The overall macro sentiment is more, the overseas Lun aluminum price trend is strong, the overall domestic supply is stable, the downstream demand is partially repaired, the overall inventory is in an absolutely low position, the aluminum price trend is strong, currently close to the 2w mark, the space above the price is still under pressure, and the short-term aluminum price is expected to maintain 19700-20000 high operation.