2-24-2025 China Aluminum Price：CNY 20,590/ MT

SMM A00 aluminum was quoted at CNY 20,590 /mt, down CNY 220 /mt, with a discount of CNY 70 /mt to the March contract, unchanged.The inventory of aluminum ingots in major domestic consumption areas stood at 873,000 mt, an increase of 28,000 mt compared to last Thursday.Currently, most suppliers are optimistic about the future aluminum market and expect that after entering March, the inventory turning point will gradually emerge. With policy support, aluminum ingot inventories are expected to remain at low levels for an extended period, and spot market sentiment of holding back cargoes is intensifying. Under strong expectations but weak reality, aluminum prices, driven by macro sentiment and trading expectations, are more likely to rise than fall.