SMM Aluminum Futures Review: SHFE Aluminum Declines Under Pressure, Fundamentals Weaken

[SMM Aluminum Futures Brief Review: SHFE Aluminum Pulled Back Under Pressure Today, Alumina Dropped Sharply]

Macro front, the Chinese government continued efforts to boost consumption, while regional conflicts remained unresolved. Fundamentals side, although multiple aluminum smelters in Sichuan and Guangxi cut production in December, and some capacity restarts stalled, production still showed positive YoY growth. Demand side, amid the off-season, market demand continued to weaken, operating rates in the aluminum processing industry declined steadily, and some aluminum processing plants were nearing holiday shutdowns.