Recently, domestic aluminum spot prices have been stable. Aluminum spot prices in Guangdong rose slightly. Daily higher transaction prices rose from 17,270 yuan/ton on Monday to 17,420 yuan/ton on Wednesday, and the daily low transaction price also rose to 17,300 yuan/ton; the aluminum spot price in Shanghai Horizontal consolidation, spot trading price fluctuations in the 17140-1717 yuan / ton range. Market characteristics: At present, domestic aluminum stocks have declined rapidly, and the shortage of aluminum supply in the spot market has been highlighted in the short term. As of last week, the stock of aluminum at the delivery warehouse of the Shanghai Futures Exchange was 20,750 tons. Among them, the aluminum inventory in Guangdong was 8,204 tons, a decrease of 1,919 tons. At present, the level of aluminum stocks is already lower than the normal turnover stocks, and in the same period last year, the aluminum stocks at the delivery warehouses of the Shanghai Futures Exchange were as high as 140,000 tons. Overall, the decline in aluminum inventory at the current stage has prompted aluminum manufacturers to reluctant to sell, coupled with tight rail transport, it is difficult to have a large number of aluminum ingots in the short term, and aluminum spot prices have received strong support. The author believes that although the spot price of domestic aluminum in the short term is strong, but if the price of aluminum can not stop falling later stabilized, then the long-term trend of domestic aluminum spot prices will be difficult to be optimistic. In addition, if the domestic aluminum spot price and the aluminum price in the international market continue to increase, then the increase in aluminum imports will become possible. A large number of aluminum ingot imports will soon break the balance of the domestic aluminum market. If the rumors of the import processing of aluminum export tax rate adjustment implementation, will directly reduce the domestic exports of aluminum, the domestic aluminum spot market may also be facing the international aluminum import increase and domestic aluminum exports reduce the dual pressure. In summary, domestic aluminum prices will remain strong in the short term. If international aluminum prices cannot stop falling and stabilize in the medium and long term, domestic spot aluminum prices will face strong pressure. (Yu Xiaojie / Futures Daily)