SMM Aluminum Morning Meeting Minutes: Fed Dovish and Domestic Aluminum

Published: Dec 15, 2023 08:51

Save

SMM Aluminum Morning Meeting Minutes: Fed Dovish and Domestic Aluminum Strengthens Inventory Reduction, Near-month Contracts May Experience Strong Volatility. On the macro level, the Fed decided to keep the benchmark interest rate unchanged at 5.25%-5.50% during the December meeting, in line with market expectations. The Fed's dovish stance boosted market confidence, and domestic social financing data overall performed well. Financial support for the real economy remained strong, and the credit structure improved. The improving macro environment at home and abroad also boosted market confidence. In terms of fundamentals, the supply side has entered a period of stable operation in the short term, but there is still a need to be vigilant of the risk of reduced production capacity in the electrolytic aluminum industry in the southwest region. On the demand side...

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

A00 pulls back slightly, aluminum scrap remains stable overall [Aluminum Scrap Daily Review]

2 hours ago

Xinjiang Boyuan Aluminum Advances 150,000 MT Annual Capacity Project in Zhundong Economic Zone

Xinjiang Boyuan Aluminum Co., Ltd. is making every effort to advance the construction of its new-type aluminum semis project with an annual capacity of 150,000 mt. Located in the Huoshaoshan Aluminum Downstream Industrial Park of Xinjiang Zhundong Economic and Technological Development Zone, the project involves a total investment of 180 million yuan and covers an area of 64 mu. It is planned to build two standardized production workshops with a total floor area of 23,000 m². In terms of production line configuration, the project will be equipped with two aluminum rod production lines, eight cast-rolling aluminum coil and strip production lines, and one cold-rolling aluminum coil and strip production line. Once fully completed and put into operation, the project is expected to achieve an annual production capacity of 60,000 mt of aluminum wire and 90,000 mt of aluminum coil.

2 hours ago

[ADC12 Price Daily Review] Aluminum futures fluctuate at highs; ADC12 spot consolidates on a strong note

[ADC12 Price Daily Commentary: Aluminum Futures Consolidate at Highs, ADC12 Spot Consolidates on a Strong Note] The aluminum alloy 2611 contract opened at 23,430 yuan/mt today, dipped to an intraday low of 23,320 yuan/mt where it found support before gradually rebounding, fluctuated within a range of 23,320-23,560 yuan/mt throughout the day, and closed at 23,435 yuan/mt, up 0.11%.

2 hours ago