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Market News: The European Central Bank is prepared to cut interest rates by 25 basis points at the next two meetings.There is still a worry about the imbalance between supply and demand. There is limited room for alumina futures to continue to fall. Since the intraday record of 5,540 yuan/ton on December 5, the main contract price of domestic alumina futures has started to fluctuate and fall, reaching a minimum of 5,077 yuan/ton on December 12, with the cumulative maximum decline exceeding 8%. According to industry insiders, the increase of alumina registered delivery brands and the sharp drop in overseas alumina spot quotations have led to the recent decline in alumina futures prices. Although the short-term news in the market is intertwined, the imbalance between supply and demand in the alumina market has not fundamentally improved, so there is limited room for the subsequent decline of alumina futures prices. (CSI)Israeli bombing of Nuseilet refugee camp in central Gaza has killed 25 people. On the evening of 12th, local time, the reporter of the Headquarters learned that Israeli bombing of a building in Nuseilet refugee camp in central Gaza has killed 25 people and injured many others.

Macron's visit to Poland to seek a stable ally focused on the Ukrainian issue. On the 12th local time, French President Macron visited Poland and held talks with Polish Prime Minister Tusk. The Ukrainian issue was the focus of discussion between the leaders of the two countries.Turkish President Erdogan met with US Secretary of State Blinken in Ankara.It is reported that the European Central Bank is considering cutting interest rates by 25 basis points in the next two meetings. According to informed sources, as the inflation rate stabilizes at the target of 2% and economic growth is sluggish, ECB officials plan to cut interest rates by another 25 basis points in January, and there may be another one in March. People familiar with the matter said that as long as the economic development meets current expectations, gradually reducing the borrowing cost is the most appropriate path. They believe that cutting interest rates by 50 basis points at a time in an emergency is still an option, but this move may convey an unexpected sense of urgency. According to people familiar with the matter, officials have not yet made any decision, and every meeting will be evaluated based on all available information, even after March. They stressed that once the situation becomes clearer after Trump takes office in January, the policy inclination of the central bank may change.

On Thursday (December 12), the won finally fell 0.05% against the US dollar to 1,429.98 won, which was as low as 1,434.70 won at 10:53 Beijing time.Raw sugar futures fell by 1.7%, coffee C fell by more than 0.6%, and new york cocoa rose by 1.9%, which once reached a record high. At the end of new york on Thursday (December 12), ICE raw sugar futures fell by 1.69% and ICE white sugar futures fell by 1.29%. ICE coffee "C" futures fell by 0.64% and rose to 348.35 cents/pound on December 10, and continued to pull back. Robusta coffee futures rose 0.45%. New york cocoa futures rose 1.93% to US$ 10,781/ton, and rose to US$ 10,900 at 23:23 Beijing time, a record high after a trading day. London cocoa futures rose 2.54% to 8063, and also rose to 8680 at 23:25, a record high for three consecutive days. ICE cotton futures fell 0.14%.French President Mark Long will announce the new prime minister on the morning of 13th. On the evening of 12th local time, French President Macron returned to Paris after his visit to Poland, and said that he would announce the new prime minister on the morning of 13th local time. Macron accepted the resignation of former Prime Minister Michel Banier on December 5th, and the government of Banier became the government with the shortest term in the Fifth Republic of France.