This week's price continued to rise, up CNY 102/MT from last week's average price
The social inventory of aluminum ingots increased by 27,000 tons compared with Monday, and the accumulated inventory after the holiday was slightly higher than the same period last year. Under the condition of stable year-on-year supply of primary aluminum, inventory performance was neutral, and peak season consumption remains to be observed. The balance of alumina tends to be loose, domestic operating capacity is at a historical high, and new production capacity at home and abroad continues to release output. Ore prices have fallen, and cost support has moved down. The phased opening of the export window will help ease the price decline. This week, the spot premium transaction index has temporarily stopped falling, but there is limited room for alumina to rebound before there is a substantial reduction in supply.
