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At present, the decline of aluminum ingot stocks in China was a seasonal habit, and the market was still focused on whether the consumption could be better than expected. Currently, the domestic destocking efforts were relatively large, but it has only lasted for two weeks until now. No one knew these efforts could continue or not.

Since the aluminum market was in a state of oversupply and the supply pressure remained high in the later period, aluminum prices still had downward pressure. Meanwhile, the new policy for the mills has limited the impact on electrolytic aluminum industry. The increase of industry costs was expected to be reflected in the medium and long term.

Considering of there were still more new production capacity put into operation in April, and the negative impact of environmental protection factors and trade warfare concerns continued, aluminum price was still easy to fall and difficult to rise.