Destocking pattern hard to reverse in the short term; aluminum prices consolidate and adjust in the near term [SMM Aluminum Morning Brief]
[Destocking Pattern Hard to Reverse in Short Term, Aluminum Prices Consolidate and Adjust in Short Term] Overall, geopolitical tensions in the Middle East remain volatile, market concerns over interest rate hikes persist, and supply continues to recover, but the destocking pattern is hard to reverse in the short term. Under the tug-of-war between longs and shorts, aluminum prices are expected to consolidate and adjust in the near term. Going forward, close attention should be paid to the progress of production resumptions in the Middle East and the trends of geopolitical conflicts, LME aluminum ingot inventory changes, and China’s downstream processing orders and aluminum semis export data.