Core Viewpoint - The aluminum ingot (AL99.70) spot prices have increased significantly across various regions in China, indicating strong market demand or tight supply, which is expected to drive upward trends in aluminum prices [1][4]. Price Summary - On February 24, 2026, the spot prices for aluminum ingots in different regions are as follows: - East China: 23,390 CNY/ton, up 230 CNY/ton from the previous trading day (February 13) - South China: 23,470 CNY/ton, up 260 CNY/ton - Southwest China: 23,390 CNY/ton, up 240 CNY/ton - Central China: 23,310 CNY/ton, up 230 CNY/ton [1][4]. Market Analysis - The significant price increases across the regions reflect a positive improvement in market fundamentals, with a strong demand or supply constraints being the likely drivers [2][5]. - A score of +2 has been assigned to the aluminum market, indicating a bullish sentiment due to the substantial price increases [2][5]. Pricing Mechanism - The pricing mechanism for aluminum is based on the benchmark price from the Business Society, which utilizes big data and pricing models to generate transaction guidance prices. This can be used for: 1. Settlement prices on specified dates 2. Average settlement prices over specified periods - The pricing formula is defined as: Settlement Price = Business Society Benchmark Price × K + C, where K is an adjustment coefficient and C includes logistics costs, brand price differences, and regional price differences [2][3][5].

Core Viewpoint - The spot prices of aluminum ingots (AL99.70) have significantly increased across various regions in China as of February 9, 2026, indicating strong market demand or supply constraints, which is favorable for spot prices [1][4]. Price Summary - In East China, the price is quoted at 23,400 CNY/ton, in South China at 23,430 CNY/ton, in Southwest China at 23,370 CNY/ton, and in Central China at 23,280 CNY/ton. These prices represent increases of 260 CNY/ton, 290 CNY/ton, 260 CNY/ton, and 250 CNY/ton respectively compared to the previous trading day (February 6) [1][4]. Market Analysis - The significant price increases suggest robust demand for aluminum or tight supply conditions, which is likely driven by a recovery in downstream manufacturing or a reduction in inventory levels, leading to a bullish sentiment in the short term [2][5]. Pricing Mechanism - The benchmark price from the Business Society is derived from big data and pricing models, serving as a trading guide price. It can be used to determine settlement prices for specified dates or average prices over specified periods. The pricing formula is: Settlement Price = Business Society Benchmark Price × K + C, where K is an adjustment coefficient and C includes premiums related to logistics, brand price differences, and regional price differences [2][3][5].

Core Viewpoint - The aluminum ingot (AL99.70) spot prices in various regions of China have declined significantly, indicating weak market demand or oversupply, which may lead to bearish sentiment in the short term [2][5]. Price Summary - The spot prices for aluminum ingots on December 15, 2025, are as follows: - East China: 21,710 CNY/ton, down 340 CNY/ton from the previous trading day - South China: 21,590 CNY/ton, down 350 CNY/ton - Southwest China: 21,650 CNY/ton, down 340 CNY/ton - Central China: 21,650 CNY/ton, down 330 CNY/ton [1][4]. Market Analysis - The overall price decline across all major regions suggests a significant downward pressure on aluminum spot prices, with a bearish score of -1.5 indicating a situation between general bearish and major bearish [2][5].

Group 1 - The core viewpoint of the article indicates that the spot prices of aluminum ingots (AL99.70) from China Aluminum Corporation have decreased across various regions on December 8, 2025, with specific price drops noted [1][5] - In the East China market, the price is quoted at 21,920 yuan/ton, in South China at 21,810 yuan/ton, in Southwest China at 21,840 yuan/ton, and in Central China at 21,770 yuan/ton, reflecting declines of 170 yuan/ton, 160 yuan/ton, 160 yuan/ton, and 170 yuan/ton respectively [1][5] - The overall decline in prices represents a decrease of approximately 0.7-0.8%, suggesting that market supply is ample or demand is weak, which generally exerts a bearish influence on spot prices [2][6] Group 2 - The pricing model used by the company is based on big data and a pricing model to generate transaction guidance prices, known as the Business Society Price [3][7] - This pricing model can be utilized to determine two types of transaction settlement prices: one for a specified date and another for an average settlement price over a specified period [3][7] - The settlement price formula is defined as: Settlement Price = Business Society Benchmark Price × K + C, where K is an adjustment coefficient and C includes various cost factors [3][7][8]