News

The Bank of Japan: The core CPI excluding special factors rose by 2.7% in May, and the core-core CPI excluding special factors increased by 2.1% in May.

Alumina futures fluctuated and declined, with the loose supply-demand pattern remaining unchanged. Institutional analysis indicates that alumina is currently in a tug-of-war between bulls and bears in the short term. The market pricing logic is undergoing a shift from “supply anxiety” to “seeking a new supply-demand balance.”

Before the outbreak of conflict between Israel, the United States and Iran, and before the disruption of shipping in the Strait of Hormuz, India's monthly import volume of liquefied petroleum gas (LPG) was about 2 million tons, with 90% imported from Middle Eastern oil-producing countries. Official data show that LPG is the main cooking fuel for Indian households. A blockade of the Strait led to imports plunging to a low of 696,000 tons in April; the import volume rebounded to 1.15 million tons in May. Prior to this supply crisis, India was planning to increase its purchases of US LPG to around 10% of its total imports, aiming to adjust the trade structure with the US and balance the bilateral trade deficit.