December 2018 | Aluminium Weekly Market Tracker
Across-the-board rally this morning on the US-China trade truce: Market Summary and Analysis
Fresh developments on China Hongqiao's decision to cut its production over the winter period of up to 550,000 tonnes has not had a positive impact on aluminium prices in China.
Across-the-board rally this morning on the US-China trade truce Last week, the average LME aluminium cash price was $1,925.1 per tonne, slightly down from previous week’s $1,930.0 per tonne. But on Monday this week, December 3, the price increased as much as 2.5% and approached the $2,000 per tonne mark in line with the across-the-board rally among the base metals. The complex has been boosted by positive sentiment from the agreement between the US and China to call a temporary truce in their trade dispute. High volumes indicate strengthening buying appetite. Hongqiao’s production cut has not had a positive impact on prices Fresh developments on China Hongqiao's decision to cut its production over the winter period of up to 550,000 tonnes has not had a positive impact on aluminium prices in China. Some of the positive outlook has been offset by the less stringent restrictions, with aluminium smelters such as...
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