Alumina 2605 Futures Rise Overnight; Technical Signals Hint at Short-Term Momentum Amid Cautious Trading

[SMM Aluminum Morning Meeting Minutes: Bears Concentrate on Exiting Positions, SHFE Aluminum Enters High-Level Consolidation] Overall, the short-term volatility risks in the SHFE aluminum and nonferrous metals markets have significantly intensified. Future prices may still be affected by factors such as the US Fed's policy shift, and the possibility of further amplified fluctuations cannot be ruled out. It is essential to closely monitor market dynamics and changes in regulatory policies, conduct trading rationally and compliantly, and prudently control positions and risks.

[SMM Cast Aluminum Alloy Morning Comment: Multiple Factors Influence Cast Aluminum Prices to Follow Primary Aluminum Fluctuations] In the spot market, the A00 aluminum price fell sharply by 960 yuan/mt compared to the previous trading day to 23,700 yuan/mt, while the SMM ADC12 price was lowered by 500 yuan/mt to 23,850 yuan/mt. Affected by the continued weakness in futures, producer quotations accelerated their decline, with the intraday drop significantly widening. Although market inquiry activity increased, actual transactions remained sluggish amid the rapid decline, and downstream wait-and-see sentiment was evident. Approaching the Chinese New Year, some die-casting enterprises have gradually halted operations, downstream demand continues to shrink, and raw material costs are declining, weakening fundamental support. In the short term, secondary aluminum alloy prices are expected to remain in the doldrums.