The SHFE market was closed at last Friday’s night session. LME aluminum opened at $2,368/mt last Friday, with its high and low at $2394.5/mt and $2363/mt respectively before closing at $2,387.5/mt, an increase of $20.5/mt or 0.87%.
From a macro perspective, the view that the Federal Reserve will turn to interest rate cut was strengthened. The People's Bank of China continued to release liquidity, providing support for aluminum prices. In terms of fundamentals, although the off-season and production cut for environmental protection weighed on the production of aluminum processing enterprises, it is insufficient to offset the impact from upstream raw materials. The aluminum prices will remain firm in the short term.
