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

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July 2019 | Aluminium Weekly Market Tracker


Strong industrial production data from China boosted base metals prices: Market Summary and Analysis


The latest LME COT report showed that fund managers trading LME aluminium remained bearish in the week to July 5.

Strong industrial production data from China boosted base metals prices LME base metals prices have been on the rise in recent days, supported by stronger than expected industrial data out of China, while a slight downturn in the US dollar index has aided buying activity. Over the weekend, China’s National Bureau of Statistics (NBS) calculated industrial production had increased 6.3% year on year in June-July, exceeding an expected 5.2% rise. Larger fund short position in early July probably fuelling current stronger price The latest LME COT report showed that fund managers trading LME aluminium remained bearish in the week to July 5; they increased their net short position by 3,884 lots, via the liquidation of 3186 lots of longs and the addition of 698 lots of fresh shorts. As a result, LME aluminium’s net short fund position expanded to 39,580 lots in the reporting week. But this is likely to...

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