According to report, China’s aluminum price might not go down further as price went softer since last November and accumulated drop by 20%. Mills saw the margin turned low so the aluminum price might not drop further. Chinese electrolytic aluminum capacity was around 43.5 million tons in 2017 and the production was around 36.5 tons last year. However, due to government’s industrial policy, the production might be cut further this year. The estimated production would be around 36 million tons this year. However, in terms of demand for aluminum, the growth rate was around 6% for the past two years. If the production could reach 36 million tons, then the demand and supply would be balanced. The current aluminum ingots stock reached a high level, but the stock ingot prices now offered lower than Chinese New Year holidays and also lower than future prices. It signaled the demand was picked up from the market. Although the aluminum price went down by the early this year, mills’ margin also went down at the same time. The market expected the aluminum price won’t go down further anymore.