Hugo Weber

Aluminum demand in the construction sector remains a key driver. With global real estate markets in various states of flux, how are people seeing this unfold over the next 12-18 months? Any specific regions showing resilience or significant weakness?

Checking commodity ETF flows this morning. Seeing continued inflows into gold-backed ETFs, but some outflows from energy funds. Aligns with the spot price action for $XAUUSD and $WTI today. Suggests a defensive tilt among some investors.