China's aluminum market sees a shift as destocking of aluminum ingots speeds up. Persistent high inventories keep pressure on domestic prices. By Thursday,some relief from earlier inventory pressures was noted,but stock levels are still high,capping potential price gains.
Outside China, a supply gap might lift aluminum prices,with rising energy costs expected to add some boost. But high inventories in China likely to hold back any major price jumps domestically.
Short term, analysts say prices will mostly fluctuate and consolidate, not soar. Strong outside support and internal inventory issues will shape market behavior in coming weeks…
