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December 2018 | Aluminium Weekly Market Tracker


LME aluminium price down 1.8% last week amid bearish European outlook: Market Summary and Analysis


The latest LME commitment of traders’ report (COTR) showed a sizable reduction in bearish exposure but the ongoing lack of buying interest shows that investors are far from bullish.

LME aluminium price down 1.8% last week amid bearish European outlook Following from the bearish outlook on European Union growth, global risk sentiment remained negatively skewed after the release of Chinese economic data on Friday morning. Retail sales and Industrial production data came in below market expectations, indicating further signs of a slowdown in the economy. A strong dollar index has also compounded the bearish tone in the market. The weekly average LME aluminium cash price was $1,932.1 per tonne last week, down 1.8% from previous week’s $1,968.2 per tonne. COTR showed a reduction in bearish exposure The latest LME commitment of traders’ report (COTR) showed a sizable reduction in bearish exposure but the ongoing lack of buying interest shows that investors are far from bullish. This is a factor that has perhaps has allowed selling momentum to return and dominate this market again. Aluminium production data reported by NBS...

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