SMM Aluminum Morning Meeting: Macro Sentiment Unstable, Cost Decline Pressures SHFE Aluminum

[SMM Aluminum Morning Meeting Summary: Macro Sentiment Fluctuates, Cost Side Declines, SHFE Aluminum Under Pressure and Falls]

Macro side, Trump officially took office. Due to market uncertainty regarding the raise tariff policy, sentiment fluctuated, and the US dollar index first fell and then rose, gradually pressuring base metals. Fundamentals side, supply disruptions decreased as supply remained sufficient. The aluminum industry's cost side showed significant easing, with the domestic aluminum immediate full average cost pulling back to around 19,000 yuan...