SMM Morning Comment For Aluminium Market On October 24

SHANGHAI, October 24(SMM) –Overnight, the most-traded SHFE nickel contract opened at 146170 yuan/mt, and closed at 148710 yuan/mt, up 2710 yuan/mt. Trading volume fell by 49492 lots, and open interest decreased by 15377 lots. On the macro side, the dovish speech of the Federal Reserve officials continued to cool the expectations of the Federal Reserve to raise interest rates, and the market's expectations for the interest rate range to remain unchanged in November and December rose to 89.6% and 70.5%. Demand in spot market declined yesterday. Nickel price is expected to rebound slightly.