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After Wednesday's sharp decline, Shanghai Aluminum was again in a downturn on Thursday. Still, the daily fluctuations of the contracts were only around 60 yuan per ton. The AL508 contract closed at 16,640 yuan, down 10 yuan. With the continuing downturn in trading, trading volume and open interest gradually decreased in the process of sideways trading, and the atmosphere for traders to wait and see was stronger. Due to the potential pressure of the appreciation of the renminbi, investors cannot devote more enthusiasm to the bleak aluminum market. Therefore, the current situation in which nobody is interested in the aluminum market will continue and investors are not encouraged to participate. Judging from the daily chart, Shanghai Aluminum has been weaker sideways for two months and it is estimated that if there is no clear bullish news, Shanghai Aluminum will continue to maintain this trend. Technical indicators are currently entwined on the 5th, 10th, and 30th averages. The relative strength index (RSI) is still around 50, indicating that the possibility of sideways consolidation is still relatively large. At present, the main force of Shanghai Aluminum is in the AL508 contract. The trend of the contract indicates the trend of Shanghai Aluminum's main force. Traders can pay close attention to the contract. From the external disk point of view, Lun aluminum recently oversold rebound is coming to an end, it is difficult to play a clear lead role in Shanghai aluminum. In addition, the domestic aluminum spot market also showed a sideways trend of consolidation, which will further extend the time of the aluminum aluminum sideways. Therefore, traders are advised to wait and see for the time being. As long as the price has rebounded, we can seize this opportunity and carry out some short-selling maintenance.