[SMM Aluminum Futures Brief Review: SHFE Aluminum Fluctuates Downward, Alumina Remains in Fluctuating Adjustment] Fundamentals side, the pressure on the domestic aluminum supply side has recently eased. On one hand, the domestic aluminum operating capacity has slightly declined, with some aluminum smelters in Sichuan and Guangxi reportedly undergoing technological transformation or cutting production due to losses. On the other hand, affected by coal supply guarantees in Xinjiang, the in-transit volume of domestic aluminum ingots has decreased, leading to an accelerated decline in inventory.
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