[SMM Aluminum Morning Meeting Summary: Trump's Tariff Stick Lands, SHFE Aluminum May Face Resistance at High Levels]
On the macro front, the EU has intensified sanctions, and US tariffs exert pressure. In the short term, the global aluminum market is expected to undergo structural adjustments due to policy impacts. Continuous attention should be paid to the dynamics of trade policies in Europe and the US, as well as changes in demand in major consumer markets.
On the fundamentals side, pressure on aluminum supply recovery has re-emerged, with domestic aluminum operating capacity expected to see a slight increase in February. The average spot price of alumina continues to weaken, driving aluminum costs to extend their downward trend. Cost-side support continues to weaken, and as of now, aluminum costs...
