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

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August 2019 | Aluminium Weekly Market Tracker


LME aluminium continued to trade sideways but SHFE at 10-month high on supply disruptions: Market Summary and Analysis


The ongoing trade conflict between China and the USA exacerbated last Friday following the US President Donald Trump announced an additional 5% tariff on $550 billion worth of Chinese goods, in retaliation for China's decision to hike trade tariffs on $75 billion of US products.

LME aluminium continued to trade sideways but SHFE at 10-month high on supply disruptions LME aluminium price action appears unwilling to trade out of the current tight range of $1,750-1,800 per tonne despite recent cancellation of 21,800 tonnes from LME-registered warehouses in Port Klang and Singapore on Thursday August 22. However, the Shanghai Futures Exchange most-traded October contract recently hit a 10-month high due to the market reaction to aluminium production outages in China. Trade war between China and USA escalated The ongoing trade conflict between China and the USA exacerbated last Friday following the US President Donald Trump announced an additional 5% tariff on $550 billion worth of Chinese goods, in retaliation for China's decision to hike trade tariffs on $75 billion of US products. We believe the move will further deepen the threat of an all-out trade war that many fear could bring global economies into recession, which...

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