On April 3rd, the spot aluminum price was reported at 18605 yuan/ton, a decrease of 60 yuan/ton for the Yangtze River Composite spot AOO aluminum ingot price; China Aluminum East China AOO aluminum ingot price was quoted at 18610 yuan/ton, a decrease of 60 yuan/ton. Macro data is still uncertain and lacks strong support overall. The domestic aluminum cost is on the brink of decline and smelting profits are being repaired. Electric coal prices remain weak and stable, carbon block prices continue to decline, and cost collapse has dragged down the space above aluminum prices. Moreover, the aluminum demand side has not formed a consistent strong expectation, which is a key contradiction point limiting the intensity of aluminum price rise. In the short term, aluminum prices continue to maintain a high level of consolidation, and now aluminum has slightly declined.