Guangzhou futures: aluminum prices within a narrow range

The US PPI data in April rose more than expected, the market's optimism about interest rate cuts was revised, the US imposed tariffs on China's electric vehicles, and the marginal change in Sino-US relations pressured macro sentiment. On the basic level, the domestic electrolytic aluminum supply is stable, the resumption of production in Yunnan has brought some aluminum water growth, the downstream demand is still resilient, the aluminum price center of gravity is moving up the price is difficult to fall, short-term prices or narrow fluctuations between 20000-21000.