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Last week, the news of the States' another round of sanction on Rusal (United Co. Rusal International PJSC) was spread over the international market, driving the aluminum alloy price up by nearly 2% (LME3 price). However, the fever was quickly quenched overnight, with a sharp pludge of over 4% from the peak in two days (by China hour).
We expect the high aluminum price will not stay too long despite of the expectation of quantified monetary policies around the world. Most industries and service have not yet fully recovered except China's. The high price will finally strike down the demands for the alloy. We maintain the view that aluminum price will further go down till the end of Feb, 2021.
