Average price of 02.10-02.14: CNY 20,530/Mt
The social inventory of aluminum ingots continues to accumulate, and the current inventory has risen to 784,000 tons, an increase of 53,000 tons from last week.
On the macro level, the market's concerns about future inflation rebound, further escalation of trade frictions, and declining demand are expected to amplify the volatility of metal prices. Fundamentally, aluminum is still in a situation of strong supply and weak demand at this stage. Aluminum ingots are still accumulating after the holiday, which puts pressure on aluminum prices. However, considering the upcoming peak season and the convening of important domestic meetings, it is possible that the market will start anticipatory transactions in advance.
