Research

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

Change font size:   

January 2020 | Aluminium Weekly Market Tracker


Aluminium price remains fairly resilient to geopolitical tensions: Market Summary and Analysis


LME aluminium's net short fund position (NSFP) contracted to 17,548 lots in the week to December 27 following three consecutive weeks of buying pressure.

Aluminium price remains fairly resilient to geopolitical tensions Geopolitical tensions in the Middle East show no sign of abating, following reports that Iran says it will no longer observe limits on its uranium enrichment program. Combined with the negative macroeconomic backdrop, this sent global equities lower and set a rather bearish climate for base metal prices on the LME. Still, LME aluminium's price action remains fairly resilient. Specs are warming up to a brighter outlook on aluminium LME aluminium's net short fund position (NSFP) contracted to 17,548 lots in the week to December 27 following three consecutive weeks of buying pressure. Gross longs added 3,559 lots, which was reinforced by 4,313 lots of short-covering activity. Q1 MJP premium settled 14.4% lower On the physical front, Fastmarkets learned that the first-quarter 2020 major Japanese port (MJP) aluminium premium settled 14.4% lower at $83 per tonne. We were not surprised by the...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?