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

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January 2020 | Aluminium Weekly Market Tracker


Positive risk sentiment: Market Summary and Analysis


The rebound in LME aluminium prices fits with the improved macroeconomic backdrop.

Positive risk sentiment Events over the past two months have generally been supportive of risk sentiment while trade tensions between the United States and China continue to ease. With the “phase one” trade deal set to be signed on January 15, both countries have also agreed to restart semi-annual talks aimed at resolving economic disputes, a process which was previously abandoned at the start of the trade conflict. LME aluminium stocks fell amid persistent outflows The rebound in LME aluminium prices fits with the improved macroeconomic backdrop. In addition, the light metal’s micro-dynamics have been price-supportive too. In the week to January 10, total aluminium stocks in LME-approved warehouses fell by 60,250 tonnes, down to 1,410,675 tonnes amid persistent outflows. This was complemented with rising cancelled warrants, with 51,875 tonnes of metals freshly assigned for removal. So far, 43% of all available metal in LME sheds have been marked for...

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