China Aluminum Stocks Return to Growth after Brief Drop, SMM Says

According to preliminary statistics from the Passenger Car Association, wholesale sales of passenger new energy vehicles in China are estimated to have reached 900,000 units in January, up 1% YoY. Among them, Tesla China performed strongly, with wholesale sales of 69,129 units, up 9.3% YoY.

Federal Reserve Governor Cook pointed out that bringing the inflation rate back to the target level in the near term is the top priority for the US Fed, which is crucial for maintaining its credibility. Cook also mentioned that the risk of a rise in inflation is currently prominent, and uncertainty in the economic outlook remains high.

The European Central Bank decided to maintain the current benchmark interest rate unchanged, marking the fifth consecutive pause in interest rate cuts since last June. Despite this, the bank has yet to provide clear guidance on the future path of monetary policy, further reinforcing market expectations that monetary policy will remain unchanged in the short term. Meanwhile, policymakers continue to monitor the appreciation of the euro, focusing on assessing its potential impact on the competitiveness of the export sector and inflation trends.