LME Aluminum to Fluctuate at Highs (2017-5-24)

The China Automobile Dealers Association released the latest “Automobile Consumption Index”: in February 2026, the Automobile Consumption Index reached 72.9, showing a clear upward trend compared with the previous month. Sales in March are expected to increase significantly compared with February, as the market enters a post–Chinese New Year phase of recovery and rebound.

US President Trump has formally nominated Kevin Warsh to serve as the next Fed Chairman. Once approved by the Senate, Warsh will replace incumbent Chairman Powell and begin a four-year term. Next, the nomination will proceed to hearings before the Senate Banking Committee; however, because Powell is under criminal investigation, Republican Senator Tillis may block the nomination from moving to the review process.

US Fed Governor Milan noted that he was not inclined to overinterpret a single month’s employment report. He mentioned that an oil price shock might bring downward pressure to core inflation by suppressing demand. He also believed that the neutral rate was roughly in the 2.5%–2.75% range, and that the US Fed should cut interest rates to the neutral level and then reassess the situation. In addition, he stated clearly that if the US Fed did not decide on an interest rate cut this month, he would vote against it.