Aluminum demand in China is weakening despite prices hitting a four-year high
amid the Iran conflict. Inventories of primary aluminum have exceeded 1.3
million tons, the highest since 2020, while buyers limit purchases to immediate
needs, according to Mysteel. Elevated prices have dampened demand even during
the post-holiday peak season, raising concerns about broader economic momentum
as higher energy costs weigh. Supply-chain inventories remain elevated,
signaling continued softness.
