Aluminum Price Trend in April

Aluminum price trend in April
Affected by the US aluminum tariff (tax rate increased to 35%) in early April, the aluminum price fell rapidly from CNY20,560/Mt to CNY19,530/Mt; in the middle and late April, due to the acceleration of domestic destocking and the steady rise of alumina prices to around 20,000 yuan/ton, the aluminum price still fluctuated slightly until the end of April and remained at CNY20000/Mt

Inventory trend in April
The destocking speed supported the aluminum price to a certain extent. From April 1 to April 15, the overall destocking trend was not affected by tariffs and destocking was steady; from April 15 to April 25, the destocking speed was fast. As of April 30, the social inventory of aluminum ingots dropped from 774,000 tons at the beginning of April to 643,000 tons at the end of the month (a decrease of 17%), and the inventory of aluminum bars decreased to 222,000 tons at the same time.