MYSTEEL: Weaker demand to weigh on Chinese Al prices in May

Chinese primary aluminum prices are expected to stay under downward pressure this month after taking a roller-coaster ride in April, due to the weakening in demand, according to Mysteel's latest monthly report of the metal.

As of April 20, China's national spot price of 99.7% primary aluminum ingot under Mysteel's assessment hit a more than four-month high of Yuan 19,125/tonne ($2,767) EXW including the 13% VAT, before sliding in the last week of the month to settle at Yuan 18,535/t on April 28, or