SMM Aluminum Morning Meeting: CPI Stable, Dollar Index Peaks, LME Aluminum Pressured

Publicado: Nov 14, 2024 08:38
[SMM Aluminum Morning Meeting Minutes: CPI Data Meets Expectations, US Dollar Index Hits New High for the Year, LME Aluminum Under Pressure] On the macro front, the U.S. unadjusted CPI for October rose 2.6% on an annual basis, meeting market expectations and marking a three-month high, ending a "six-month decline." The U.S. Dollar Index extended its gains to hit a new high for the year, leading to further downward adjustments in non-ferrous metals. Meanwhile, several Federal Reserve officials expressed deep uncertainty about the magnitude of interest rate cuts, which will make them more cautious and may prompt them to pause during the rate-cutting cycle. Domestically, new real estate policies have been introduced, with enhanced deed tax incentives and potential VAT exemptions expected to boost the real estate industry. Fundamentals-wise...

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