Positive Fundamentals to Underpin Aluminium Prices, But Macro Uncertainty Persists

SHANGHAI, Mar 31 (SMM) – On the macro level, the pace of the Fed's interest rate hike seems to be slowing down, adding to market uncertainty. On the fundamentals, despite a slight recovery on the production side, domestic aluminium ingot social inventory continued to fall as downstream consumption continued to pick up. The short-term aluminium prices may go up, driven by improving fundamentals. However, macro uncertainty should be closely watched.