2-25-2025 China Aluminum Price：CNY 20,400/ MT

According to SMM statistics, the total social inventory of aluminum ingots and aluminum billets has climbed to 1.194 million tons and it is expected that the inventory inflection point will gradually emerge after entering March. With policy support, the inventory of aluminum ingots is expected to remain at a low level for a long time, and the stockpiling sentiment in the spot market has intensified. Under the situation of strong expectations and weak reality, aluminum prices have fluctuated greatly driven by macro sentiment and trading expectations, but weak fundamentals have made it difficult for aluminum prices to maintain their upward momentum, and prices are expected to fall back in the short term.