China's primary aluminum prices poised for declines

After fluctuating last week, Chinese prices of primary aluminum may start declining from this week, market sources suggest, reasoning that further reductions in their production among domestic users could drag down prices of the light metal.

For now, domestic spot and futures prices for primary ingot seem firm, with Mysteel assessing the national average price of 99.7% primary aluminum on January 3 higher by Yuan 99/tonne ($13.5/t) on week at Yuan 19,896/t including the 13% VAT. On the same day, the most-traded aluminum contract on the