Macro expectations repeatedly disturb futures, weak expectations for peak season, aluminum prices are under pressure [SMM Aluminum Morning Meeting Summary]
[Macro Expectations Repeatedly Disrupt Futures, Peak Season Expectations Weak, Aluminum Prices Under Pressure] Overall assessment, macro sentiment fluctuates, frequently disturbing aluminum prices in China and overseas; on the fundamentals side, aluminum ingot inventory continues to destock, providing bottom support for aluminum prices; however, the SHFE/LME price ratio has recovered, and as orders on hand are digested, export demand is expected to gradually weaken, domestic end-user demand performance is average, and the market has certain concerns about peak season demand, with short-term aluminum prices expected to consolidate on a subdued note.