(2) Jinping Xi: The development prospects of the private economy are broad and promising, and it is the right time for private enterprises and entrepreneurs to showcase their capabilities. (Bullish ★★)
(3) The 14th Session of the Standing Committee of the 14th National People's Congress will be held in Beijing from February 24 to 25 to review the draft law on promoting the private economy and the draft amendment to the Civil Aviation Law submitted by the State Council. (Bullish ★)
Fundamentals: (1) According to SMM statistics, aluminium ingot outflows from warehouses totaled 100,500 tonnes during 2.11-2.16, an increase of 30,000 tonnes compared to the Chinese New Year holiday period. Aluminium billet outflows from warehouses totalled 44,200 tonnes during 2.11-2.16, an increase of 27,100 tonnes compared to the Chinese New Year holiday period. (Bullish ★)
(2) On February 17, domestic mainstream consumption area aluminium ingot inventory stood at 818,000 tonnes, up 55,000 tonnes from last Thursday. (Bearish ★)
(3) Domestic mainstream consumption area aluminium billet inventory reached 307,000 tonnes, up 6,600 tonnes from last Thursday. (Bearish ★)
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
