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

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January 2019 | Base Metals


Market Summary: Bias to the upside


The base metals are still edging higher, but a lack of progress in the latest round of US-China trade talks this week may scupper the fragile improvement in sentiment.

Bias to the upside
The base metals are still edging higher, but a lack of progress in the latest round of US-China trade talks this week may scupper the fragile improvement in sentiment.

Aluminium: Looking for fresh direction

The LME aluminium price has been in an upward trend since the January 3 low, which is a positive development from a technical perspective at least. The increase in LME cancelled warrants recently has helped somewhat, but the removal of Rusal’s sanctions adds downward pressure even though it was already widely expected. US-China trade talks are the most likely source of fresh direction in the short term. Our Q1 price forecast remains at $1,900 per tonne, allowing for a little further upside...

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