Aluminium ingot trading activity remained muted throughout the last week, characterized by a scarcity of new orders. The continuous drop in raw material prices further weakened cost support. Downstream aluminium ingot enterprises maintained a cautious, just-in-time procurement strategy, reflecting a lack of substantial demand growth.
Key takeaways:
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Early-April concerns over potential US tariffs initially pressured aluminium ingot prices, but the impact has diminished, with supply-demand fundamentals regaining influence.
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New refinery operations in Asia, notably Indonesia’s Mempawah project and expansions in China, have led to an oversupplied alumina market after sharp price declines in Qx xxxx.
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A stronger US dollar, combined with ongoing global oversupply concerns, has restricted aluminium ingot price growth, and a slight downward correction is anticipated soon due to sufficient supply and seasonal demand weakening.
China&#xx;s aluminium ingot market is seeing a boost in raw material supply. As of April xxth,...
