SMM Aluminum Morning Meeting: Dollar Index Surges, Overnight Prices Weaken

Publicado: Nov 13, 2024 08:50
【SMM Aluminum Morning Meeting Minutes: US Dollar Index Continues to Rise, Overnight Aluminum Prices Weak】Macroscopically, overseas, since Trump's victory in the election last week, the US Dollar Index has continued to climb, reaching its highest level in a year, putting pressure on non-ferrous metals. Recently, transportation in the northwest has improved, forcing an interruption to the continuous decline in aluminum ingot inventories. A turning point in inventory has initially formed, and the support from low inventory for aluminum prices may gradually weaken. Spot supplies of alumina are tight, compounded by disruptions from production cuts and shutdowns at some enterprises. However, non-ferrous metal agreement holders have voiced concerns about the current large fluctuations in alumina prices, leading to a slight decline in market sentiment...

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