Aluminum prices strengthen in February
Aluminum prices strengthened on February 26th. According to the Commodity Market Analysis System of Shengyi Society, as of February 26, 2025, the average price of aluminum ingots in the East China market in China was 20546.67 yuan/ton, an increase of 0.96% from the market average price of 20213.33 yuan/ton on February 1.
In terms of futures, on February 25, 2025, the main contract of Shanghai Aluminum closed at 20615 yuan/ton, up 0.34%.
Reasons for today’s rebound in aluminum prices:
Although China’s aluminum ingot inventory is in a seasonal accumulation trend, it is still relatively low overall. On February 24th, China’s aluminum ingot inventory reached 24000 tons to 880000 tons, and LME aluminum inventory also decreased by 4000 tons to 535900 tons on February 24th. Low inventory has led to tight market supply and driven aluminum prices to strengthen.
The expectation of Rusal’s return to the international market has risen, and the price of London aluminum in foreign markets is higher. The inflow of Rusal into China may decrease, which will increase the price difference between domestic and foreign aluminum prices.
Due to the expectation of an important domestic conference and the impact of market sentiment on news, Hong Kong aluminum industry stocks fluctuated and rose on February 26th, with positive financial sentiment for the sector and strong aluminum prices.
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