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November 2019 | Aluminium Weekly Market Tracker


Aluminium price fell 3% week-on-week as risk sentiment deteriorated: Market Summary and Analysis


LME aluminium stocks rose by 122,000 tonnes last week after sizeable inflows into sheds in Asia.

Aluminium price fell 3% week-on-week as risk sentiment deteriorated Risk sentiment deteriorated sharply, pulling LME base metals prices down in the week to November 15. Markets seem content with the “sell first, ask questions later” strategy amid a barrage of negative trade developments between the United States and China. The LME aluminium price was down by 3% week-on-week. LME stocks rose after sizeable inflows LME aluminium stocks rose by 122,000 tonnes last week after sizeable inflows into sheds in Asia. We said previously that the recent and significant inflows have raised fresh concern that there is a great deal of idle metal making its way back into the LME warehousing system due to a weak physical market. This appears to be the case after global aluminium premiums faced persistent downward pressure amid widespread bearishness and a persistent backwardation in LME forward price spreads in the week to November 12. US...

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