Trump stressed that he would ask "(the Federal Reserve) to lower interest rates immediately" and planned to talk to Federal Reserve Chairman Powell at an appropriate time, claiming that he understood interest rates better than Powell.
According to SMM, Jan 23th, the domestic electrolytic aluminum ingot inventory was 460,000 tons, an increase of 5,000 tons from Monday; the domestic aluminum bar inventory was 200,800 tons, an increase of 23,000 tons from Monday.
SMM A00 1.20-1.24 average price CNY 20,232/Mt. In terms of macro, Trump answered several key questions at the World Economic Forum Annual Meeting in Davos, including asking the Federal Reserve to lower interest rates. The improvement in market sentiment led to a rebound in risky assets. In terms of supply and demand, bauxite supply continued to be tight; alumina spot transactions continued at low prices, and spot prices continued to fall. At present, electrolytic aluminum consumption is generally in the off-season, and the downstream has gradually entered the holiday mode. The operating rate of downstream aluminum processing enterprises has fallen significantly, the spot market trading has weakened, and the aluminum ingot inventory has turned into a seasonal accumulation.
