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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


Risk appetite should improve this week: Market Summary and Analysis


Recent inflows of metals into LME-approved warehouses have failed to douse the backwardation in the December-January spread, which has edged higher to $15.00 per tonne.

Risk appetite should improve this week Over the weekend, China appears to have reached a compromise position that could boost the probability of a 'phase one' trade deal with the United States. China announced that it will raise penalties for intellectual property (IP) rights theft, meeting one of the many stringent demands from the US. Barring any further negative developments, risk appetite should improve this week and potentially bring about renewed optimism in aluminium prices. Restocking may be held off until 2020 Recent inflows of metals into LME-approved warehouses have failed to douse the backwardation in the December-January spread, which has edged higher to $15.00 per tonne. Increased tightness in spreads pushed European and US premiums down further in the week to November 22. We understand there has been increasing pressure from weak demand, resulting in low spot business activity. The situation could get worse because the inclination to restock...

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