China's Secondary Aluminum Alloy Ingot Inventory Decreases, Continues Destocking Trend

[Domestic and Overseas Aluminum Prices Weaken in Tandem as Geopolitical Easing Puts Overall Pressure on Aluminum] The US Fed's dot plot released a hawkish pivot, turning the global macro front bearish. Recent oil price declines have also indirectly supported a stronger US dollar, exerting downward pressure on aluminum prices. In China, destocking continues to accelerate, but absolute inventory remains at elevated levels. With no new macro bullish catalysts, SHFE aluminum followed LME aluminum under pressure. It is expected that aluminum prices will remain in the doldrums in the short term.