On Thursday, LME stocks fell 5,900 tons to 12,2900 tons, and three-month aluminium metal prices rose 0.03% to $1863 per ton, while Shanghai Aluminum Night Market main contract rose 0.11% to $13500.

In the spot market, the enthusiasm of downstream enterprises to receive goods is slightly better than yesterday, but the price of metals has not improved significantly. The spot circulation is dominated by traders, and the overall turnover is flat.

On the industry side, the Russian Aluminum management said in a conference call that the company's business had returned to normal after the lifting of sanctions by the United States. According to Dow Jones on March 6, data released Wednesday by the U.S. Department of Commerce show that imports of unprocessed non-alloy aluminium in December 2018 amounted to 141,744,981 kg, November 141,493,502 kg and 2018 to 1,913,311,861 kg. The U.S. Department of Commerce also announced that aluminium exports in December 2018 amounted to 4,558,601 kg, compared with 4,315,293 kg in November.

Operationally, the OECD downgraded its global economic growth forecast for 2019 and 2020 again, reigniting investors'concerns about slowing global and Chinese demand, and the continued rise in Lun's aluminium stocks has put pressure on aluminium prices.

Shanghai Aluminum continues to operate in a weak position. Under the influence of the VAT reduction policy, the pressure in the distant month is still strong. And when the time of tax reduction is not clear, the fluctuation of monthly difference increases.

Price differentials between near and far monthly prices are expected to continue until the tax reduction logic is fully completed. Domestic aluminium prices are expected to perform or be relatively weak before the first quarter.