SMM Aluminum Morning Meeting: US Feb CPI Miss Boosts Aluminum Prices on Rate Cut Hopes

[SMM Aluminum Morning Meeting Summary: US February CPI Data Below Market Expectations, Aluminum Prices Rose Overnight]

Macro side, US February inflation data came in below expectations across the board, alleviating some market concerns and fueling expectations for a US Fed interest rate cut in June. Fundamentals side, domestic aluminum production resumption continues to advance; aluminum ingot social inventory maintained destocking during the week, coupled with a sustained rebound in operating rates of aluminum processing enterprises, strengthening consumption-side support. Overall, recent macro sentiment is bullish, and fundamentals show a dual increase in supply and demand. Order recovery across multiple sectors drives downstream operating rates higher, combined with continued destocking of social inventory, providing support for aluminum prices. Aluminum prices are expected to hover at highs in the short term.