SMM Aluminum Futures Brief: SHFE Aluminum Trends Downwards Amid Macro Pressures

[SMM Aluminum Futures Brief: SHFE Aluminum Maintains Downward Trend, Alumina Accelerates Decline]

Macro front, with the slowdown in market inflation data, expectations for US Fed interest rate cuts in March next year have resurfaced. However, the market is weighing the prospect of relatively small rate cuts next year. The US dollar index hovers near a two-year high, putting pressure on base metals. Overall, macro front, influenced by expectations for US Fed interest rate cuts next year, fundamentals side, although supply-side pressure has slightly eased, off-season demand remains weak, and the risk of inventory buildup in social stocks continues to grow. In the short term, aluminum prices are expected to fluctuate downward.