China’s aluminum prices close at a two- week low amid demand concerns and technical resistance

SHFE two-month aluminum prices closed the overnight session down 0.7% at 13,615 yuan per mton ($1,748 per mton, excluding VAT) and extended losses in after-hours trading until reaching levels as low as 13,570 yuan per mton ($1,742 per mton, excluding VAT). Prices sustained downward pressure triggered by ongoing demand cues and new buildups in domestic primary aluminum inventories (which stand at a nine-month high). SHFE aluminum prices continue to face resistance around 13,650 yuan per mton (1,755 per mton, excluding VAT).

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