SMM Aluminum Briefing: Aluminum ingots and bars are being stocked up, and short-term aluminum prices may fluctuate widely. On the first trading day after New Year's Day, the People's Bank of China tightened liquidity, leading to an accumulation of aluminum ingots and bars. With a series of negative news, combined with the previous continuous rise in Shanghai aluminum prices, some long positions panicked and exited the market, leading to a retaliatory rebound in Shanghai aluminum. However, the expectation of a rate cut by the Federal Reserve still exists, and the rise in the cost of alumina has opened up, providing support for aluminum prices. Short-term aluminum prices are expected to be difficult to significantly decrease and may mainly fluctuate widely.
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