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

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February 2020 | Aluminium Weekly Market Tracker


LME aluminium struggled to attract dip-buying interest: Market Summary and Analysis


The latest figures from China’s National Health Commission show the number of people infected with the novel coronavirus (2019-nCoV) in the Chinese mainland is 77,269, while the number of deaths stands at 2,596 as of 10pm Beijing time Monday February 24.

LME aluminium struggled to attract dip-buying interest On a week-on-week basis, LME three-month base metals prices were down by an average of 1.6% at the close on Friday. The LME aluminium price by fell 0.5% after it struggled to attract dip-buying interest at discounted price levels. We said previously that we remain mindful that any rebound is likely to stay within the multi-month descending wedge-like pattern. This is because the light metal’s fundamental backdrop, as well as the current macroeconomic climate, are likely to impede its price recovery. Number of coronavirus infections and deaths outside of China is growing The latest figures from China’s National Health Commission show the number of people infected with the novel coronavirus (2019-nCoV) in the Chinese mainland is 77,269, while the number of deaths stands at 2,596 as of 10pm Beijing time Monday February 24. More worrying is the fact that the number of infections...

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