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铝价预计有限 后续保持偏好震荡
Jin Tou Wang·2025-10-14 07:06

Group 1 - The domestic non-ferrous metal market is experiencing a downturn, with aluminum futures showing slight strength, closing at 20,880.00 CNY/ton, up 0.10% [1] - The macroeconomic environment indicates short-term pressure on the domestic economy, with slowing consumption and investment growth, but there are structural highlights in domestic demand [1] - Future macro policies are expected to maintain a "steady progress" approach, relying on coordinated fiscal and monetary policies to stabilize growth [1] Group 2 - Supply side analysis shows that the upstream industry remains relatively loose, but domestic electrolytic aluminum supply is characterized by limited growth, with new capacity mainly from hydropower aluminum in the southwest [1] - The demand side is experiencing structural differentiation, with weak performance in construction materials dragging down overall consumption, while sectors like aluminum cables and plates are seeing slight recovery due to policy stimulus [1] - Looking ahead, market sentiment is influenced by changes in Trump's tariff policies, with expectations of limited aluminum price fluctuations and a preference for a stable oscillation in prices [2]