[SMM Aluminum Morning Meeting Summary: Fed Rate Cut Expectations Boost Sentiment, Fundamentals Still Lack Support] In terms of macroeconomics, the market's expectation for the Fed to cut interest rates has been continuously strengthening. The 20th session of the CPC Central Committee will soon convene, and there may be new positive news announced. On the fundamentals, the supply of domestic electrolytic aluminum has increased, and there is still some capacity waiting to resume production. However, downstream aluminum processing and terminal demand have entered a slack season, with demand in some areas suffering a blow. The operating rate of aluminum processing industries has declined, leading to a gradual increase in social inventory. The aluminum market temporarily lacks driving factors, and short-term attention should be paid to the impact of macroeconomic changes on aluminum prices.
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