Primary aluminum production outside China remained stable year-over-year in February, with a total output of 2365.6 kmt. The capacity utilization rate is currently at 87.6%. Notable regional developments include the restart of Alcoa's Alumar smelter in Brazil and UC Rusal's Taishet smelter in Russia. Europe saw a decline in production due to the closure of the Neuss smelter in Germany. Looking ahead, production is expected to remain steady in March, with an estimated total output of 2524 kmt. The closure of the New Madrid smelter in the United States and increased production at the Boyne Island smelter in Australia are expected to impact regional trends.

During an early morning press conference, Federal Reserve Chair Powell dampened expectations of a rate cut in March. This announcement coincided with significant drops in all three major US stock indices, and the yield on the US 10-year Treasury dipped below 4%. Economist stated that it is more than just lowering expectation of march rate cut......