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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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August 2018 | Base Metals


Aluminium: Testing $2,000 per tonne


Even though exchange stocks continue to fall, which is a bullish undercurrent since it is the low demand season, aluminium prices remain under pressure amid trade uncertainties and dollar strength, which continue to drag on broader risk sentiment. Aluminium is approaching previous support around $2,000 per tonne, although we believe this should hold for the moment.

Aluminium prices declined last week...
Aluminium prices were on a general downtrend last week, overshadowed by the combination of dollar strength and rising trade tensions. Chinese officials have vowed to retaliate to US plans to increase planned tariffs to 25% from 10% on $200 billion worth of Chinese goods and in fact, it announced last Friday that it will apply import tariffs of 25% on a series of US metal products including copper concentrates and copper cathode.

The weekly average LME aluminium price last week was $2,038 per tonne last week, down 1.8% from previous week’s $2,075.5 per tonne.

...even though LME...

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