SMM Aluminum Futures: Macro Tailwinds Propel Shanghai Aluminum Prices to Fluctuate Upwards

Published: Sep 20, 2024 18:29

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[SMM Aluminum Futures Brief Commentary: Macro Fundamentals Resonate, Shanghai Aluminum Prices Fluctuate Higher] On the macro front, the Federal Reserve initiated an interest rate cut cycle by 50 basis points. The dot plot showed that the Fed would cut rates by another 50 basis points this year and by another 100 basis points next year. Governor Bowman voted to cut rates by 25 basis points. Powell said that interest rate cuts could be fast, slow, or paused depending on the situation, and that the risks of employment and inflation were balanced. No signs of rising recession probabilities were seen in the economy...

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