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

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November 2019 | Aluminium Weekly Market Tracker


LME price secured a 2.4% m-o-m gain as of Friday’s close: Market Summary and Analysis


Falling spot premiums, slow demand and ample supply have cast a bearish pall over the Asian aluminium market this year and we expect this will be the case for 2020 too.

LME price secured a 2.4% m-o-m gain as of Friday’s close... LME aluminium closed positively on Friday November 1, up by 3.3% week on week and securing a 2.4% month-on-month gain. We maintain our view that LME aluminium’s improved technical configuration has allowed it to edge higher from the solid base formed above the 2019 low of $1,705 per tonne. We also think that a great deal of the bearish catalysts have already run their course and upside risks have started to materialize. Asian aluminium market to see falling spot premiums and slow demand in 2020 Falling spot premiums, slow demand and ample supply have cast a bearish pall over the Asian aluminium market this year and we expect this will be the case for 2020 too. LME implementing warehouse reforms on Feb 1; QBRC relaxed to 80 days The London Metal Exchange will proceed with its proposed warehouse reforms...

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