[SMM Aluminum Morning Meeting Summary: Trump Officially Takes Office! New Tariff Delay and Weaker US Dollar Boost Aluminum Prices]
Macro side, on January 20, Trump officially took office and announced that new tariffs would not be imposed immediately. Affected by the news, the US dollar index hit a low of 108.27, boosting base metals.
Fundamentals side, supply disruptions decreased as supply remained sufficient, and the cost side of the aluminum industry showed significant easing. As of yesterday, the immediate full average cost of domestic aluminum fell to around 19,000 yuan. Specifically, alumina costs accelerated downward over the past week, and the market's purchase willingness for high-priced alumina declined. It is expected that spot alumina prices will continue to pull back, weakening cost support for aluminum...
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![[Revisión diaria del precio del ADC12] Los futuros del aluminio fluctúan en máximos; el ADC12 al contado se consolida con firmeza](https://imgqn.smm.cn/usercenter/FHiZE20251217171722.jpeg)
