Chinese aluminum prices at high levels

Aluminum prices have risen again in the past weeks, returning to around Yuan 19,000/tonne. It is said that this increase in China's domestic aluminum prices is mostly due to rumors that production in Yunnan Province will be reduced abroad.

In the short term, supply-side uneasiness dominated the course of aluminum prices, but the continuous rise in prices continued to be affected by supply and demand.

From the situation of sub-orders after the holiday and even from the domestic social inventory, the demand-side recovery is still unsatisfactory, although the accumulated value is still acceptable.

However, the expected consumption has not yet emerged and the basis for further rise in aluminum prices is still seen as lacking. Therefore, it is believed that there is still a certain ceiling for the price to climb at this time.