SMM Analysis: Multiple positive factors stimulate aluminum prices to rise at the end of the year

Since October, the domestic aluminum market has entered a relatively long period of accumulation, coupled with cautious macroeconomic atmosphere at home and abroad, aluminum prices have experienced a period of low rebound for more than two months, and rebounded strongly in mid-December. As of today, the main Shanghai aluminum futures contract touched 19,675 yuan/ton again, and the SMM A00 spot price on December 28th closed at 19,570 yuan/ton, with a cumulative increase of 930 yuan/ton since early December. At the same time, the overseas macroeconomic factors have boosted market sentiment, with London aluminum leading the overseas non-ferrous metal market.