Price trend
According to the data of SunSirs, the average price of domestic aluminum ingots in East China market on April 28 was 20,860 RMB/ton, a daily increase of 0.58%, compared with the average market price of 22,740 RMB/ton at the beginning of the month (April 1), a decrease of 8.27%; compared with the average market price of 20,370 RMB/ton at the beginning of the year (January 1), up 2.41%.
Taking the peak in 2021 (October 19, 2021), the average market price of aluminum ingots was 24,240 RMB/ton, and the recent deviation from the peak has dropped by 13.94%. Starting from the recent recovery (December 13, 2021), the average market price of aluminum ingots was 18,693.33 RMB/ton, a recent increase of 11.59%.
Summary of factors for a slight recovery in aluminum prices
- Slightly destocking social inventory
According to relevant data, as of April 28, the inventory of China's main electrolytic aluminum market was 1.018 million tons, which was slightly depleted from the beginning of the month.
- 2. The price stopped falling and the market enthusiasm returned
After the price was lowered from a high level, the demand for restocking downstream before the festival increased. On the 27th, the price began to stop falling and stabilized. The enthusiasm of stockholders to sell goods in the early stage decreased, and the number of downstream terminal stocking inquiries increased.
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