March 5, 2019
SHFE two-month aluminum prices closed Monday’s session up 0.4% at 13,710 yuan per mton ($1,792 per mton, excluding VAT) but gave back all gains in after- hours trading. Prices initially regained some ground amid market talk of a potential reduction in China’s value-added tax rate for the manufacturing sector but later fell toward 13,640 yuan per mton, pressured down by falling LME prices and reports of inventory buildups. SHFE aluminum prices remain unable to consolidate above the 13,650 yuan per mton threshold (1,755 per mton, excluding VAT).