CICC Wealth Futures: The expectation of supply recovery brought by the easing of geopolitical risks remains, and aluminum prices are expected to continue oscillating and bottoming out.

Recent U.S. economic data have been significantly weaker than expected, leading to a cooling of market expectations for further interest rate hikes by the Federal Reserve. The Shanghai aluminum main contract shows signs of price recovery driven by short covering, and after a continuous decline hitting a new phase low, there is a need for a technical rebound. Given that the expectation of supply recovery due to easing geopolitical risks still exists, aluminum prices are expected to continue consolidating at the bottom. (CICC Futures)
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