As of May 3, LME aluminum closed at $2,551 / ton, down 1.14% from the closing price of $2,580.5 / ton at 15 points on April 30.

The Federal Reserve spoke dovish, reducing the scale of quantitative tightening, exceeding market expectations, the US April quarterly non-farm data performance was lower than expected, the market interest rate cut expectations from November to September. Domestic PMI data above the line of growth and contraction, boosting consumer confidence in the market. At present, electrolytic aluminum production remains high, Yunnan continues to release the resumption of production capacity, some local areas are dry, the resumption of production rhythm or wait for the rainy season to speed up, the demand side continues to repair, aluminum rod, aluminum plate and foil enterprises operating rate is high, traditional consumption is still weak, new energy plate support demand, export consumption boost, near the holiday some manufacturers stock up. Aluminum rod, aluminum ingot inventory to the turning point. On the whole, after May Day, Shanghai aluminum prices or affected by the trend of the Lun aluminum holiday appeared a small correction, the expected shock between 19500-21000, the center of gravity of aluminum prices moved up, and the trend still maintains a bullish view.