S&P Manufacturing PMI Dips, Fed Rate Cut Looms; Domestic Aluminum Inventory Reduction Slows Amid Price Rebound

게시됨: Aug 23, 2024 08:30
[SMM Aluminum Morning Meeting Summary: U.S. August S&P Manufacturing PMI Hits Recent Low, Domestic Electrolytic Aluminum Inventory Reduction Slightly Slows Down] On the macro front, the U.S. S&P Global Manufacturing PMI index fell short of expectations, while the number of people filing for unemployment benefits that week slightly exceeded expectations, providing data support for the Fed's upcoming monetary policy formulation. Furthermore, several Fed officials have indicated that interest rate cuts are imminent, making it a high-probability event. Fundamentally, although domestic aluminum ingot inventories maintained a downward trend, the rebound in aluminum prices has led to a gradual increase in wait-and-see sentiment, thereby slowing down the pace of inventory reduction...

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[SMM Aluminum Morning Meeting Summary: U.S. August S&P Manufacturing P - Shanghai Metals Market (SMM)