Last Friday, SHFE aluminium was closed. On the previous trading day, LME aluminum opened at $2,576/mt, reached a high of $2,586.5/mt, a low of $2,550.5/mt, and closed at $2,582/mt, up $6/mt, an increase of 0.23%.
On the macro front, multiple central banks started cutting interest rates, together with the rising gold prices, providing support for commodity prices. On the fundamentals, domestic aluminium operating capacity increased YoY, while downstream demand remained weak, with only a few sectors showing resilience. The supply-demand relationship on the fundamentals weakened, but the macro support remained strong. It is expected that aluminium prices will fluctuate at high levels.
