Summary of SMM Aluminum Morning Meeting: Macro Perspective is Both Bul

Published: Sep 15, 2023 09:00

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Summary of SMM Aluminum Morning Meeting: Macro Perspective is Both Bullish and Bearish, Aluminum Price May Remain High and Volatile before and after the Change of Month. Macroscopically, the eagle's voice has risen again in the later part of this week, the overall sentiment has weakened, and the domestic reduction of reserves has released liquidity, effectively boosting market confidence. In the near future, we need to pay close attention to the multiple impacts of the expectations of interest rate hikes in Europe and the United States and exchange rate fluctuations on the non-ferrous metal market. On the fundamentals, electrolytic aluminum supply has increased across the board, and the fundamental problem of poor inventory clearance during the traditional peak season has not been truly improved. In the short term, the social inventory of domestic aluminum ingots has risen above the 500,000-ton mark, and the pressure of aluminum product inventory in September may increase. At the same time, the recent increase in imported sources in the market needs to be wary of the impact of low-priced imported sources on the domestic spot aluminum market. In the short term...

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