Changes in Hong Kong stocks | Most aluminum stocks fall back, copper tariff policy expectations trigger a decline in aluminum prices, institutions say fundamentals are still supported by low inventories

The Zhitong Finance App learned that most aluminum stocks have declined. As of press release, China Aluminum (02600) fell 4.17% to HK$8.39; Nanshan Aluminum International (02610) fell 2.96% to HK$24.88.

According to the news, according to market media reports, two people familiar with the matter said that the White House has yet to decide whether to levy tariffs on refined copper, and officials are weighing the gains and losses on both fronts: rising copper prices may drive up manufacturing costs, but encouraging more domestic mining can also bring benefits. Sources said the White House's copper tariff plan has come to a standstill.

Societe Generale Futures pointed out that expectations of the US copper tariff policy triggered a sharp drop in copper prices, an overall correction in non-ferrous metals, and aluminum prices followed the decline; ECB interest rate hikes and US PPI surpassed expectations to reinforce tightening expectations, and US dollar and US bond yields strengthened, and macroeconomic pressure increased. On the supply side, domestic electrolytic aluminum production capacity is stable. LME aluminum stocks have fallen to a low level of 244,000 tons. There has been no significant increase in supply, and low inventories only provide bottom support. The fall in aluminum prices last night was dominated by sector sentiment caused by the copper tariff issue, but fundamentals are still supported by low inventories. Short-term fluctuations are in operation, and attention is being paid to macroeconomic expectations and inventory changes.