The inventory pressure is expected to cause spot discounts in East and Central China to persist. Only in South China, production curtailment in Yunnan may possibly shift spot discounts in South China into premiums in the future.
Foshan, Wuxi, and Tianjan have also seen a plunge of RMB 280 per tonne in A00 aluminium ingot price at the beginning of the week to RMB 18,930 per tonne, RMB 18,850 per tonne, and RMB 19,900 per tonne, respectively. In Chongqing and Linyi, A00 aluminium ingot price has shrunk by RMB 260 per tonne to RMB 18,910 per tonne and RMB 18,870 per tonne, while the price in Shenyang has contracted by RMB 230 per tonne to RMB 18,900 per tonne.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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