Aluminum Prices Waver in September Amid Cautious Macro Outlook and Strong Fundamentals

[SMM Analysis: Macro Sentiment Remains Cautious, Fundamentals Show Good Performance, Aluminum Prices May Fluctuate in September] SMM News on September 11:

In late August, the aluminum market rallied rapidly to around RMB 20,000 per ton, fueled by the improvement in the macroeconomic environment and expectations of the upcoming peak domestic consumption season. However, upon entering the traditionally strong "Golden September," aluminum prices failed to meet expectations, with the main Shanghai aluminum contract experiencing four consecutive declines in September, falling back to around RMB 19,300 per ton. As of today, the main Shanghai aluminum contract closed at RMB 19,450 per ton, marking a monthly decline of 1.47%. Despite the positive fundamentals of supply and demand in the aluminum market in September, can the market regain momentum and return to strength? (Continued...)