Us PMI data to maintain expansion, the Federal Reserve rate hawkish attitude, domestic macro policy to maintain positive sentiment output. The supply side remains stable, the low price of the mine is still limited to the market supply increment, the supply of alumina is limited, the acceptance of electrolytic aluminum production enterprises is not high, the industry selling hedging pressure on the aluminum price is still there, and the aluminum price is still expected to be under pressure after reaching a new high in the short term, looking at 19800-20000 first-line support. The trend of the middle line is mainly due to the relatively diversified terminal consumption of aluminum city, real estate and infrastructure are currently weak, but there are national policy expectations, the consumption of new energy sector still provides strong support for it, and the trend of aluminum prices in the future is maintained with more views, suggesting that the layout is much lower after the callback.