Research

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

Change font size:   

March 2018 | Aluminium Weekly Market Tracker


China’s plans undermined risk sentiment: Market Summary and Analysis


LME aluminium stocks are drifting lower again following the recent inflows. Stocks total 1.273 million tonnes compared with 1.33 million tonnes on February 22.

China’s plans undermined risk sentiment The weekly average LME aluminium cash price was $2,062 per tonne last week, down 0.9%, as concerns of retaliatory trade sanctions by China in response to increasingly protectionist rhetoric from US President Donald Trump continues to undermine wider risk sentiment. Chinese authorities announced plans last Friday (March 23rd) to impose tariffs on around $3 billion of United States-origin goods, including aluminium scrap. LME aluminium stocks drifting lower again LME aluminium stocks are drifting lower again following the recent inflows. Stocks total 1.273 million tonnes compared with 1.33 million tonnes on February 22. Nearby spreads will continue to influence inflows. The cash/three-month spread has eased to a contango of $23.75 per tonne from an average of $24.50 per tonne backwardation over the second half of February. This should limit further inflows for a while but off-market finance deals face increasing pressure from the US Federal Reserve’s...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?