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February 2020 | Aluminium Weekly Market Tracker


Tighter restrictions have been implemented by the Chinese government: Market Summary and Analysis


LME aluminium was one of the two base metals which struggled to close the week to February 14 positively.

Tighter restrictions have been implemented by the Chinese government Although the reported infection rate for the novel coronavirus (2019-nCoV) has started to decline, the authorities are not taking any chances and have implemented tighter restrictions on movement in Hubei province. According to a British Broadcasting Corporation (BBC) report, 60 million people have been told to stay at home unless there is an emergency and the use of private cars has been banned indefinitely. LME aluminium price down 0.1% week-on-week LME aluminium was one of the two base metals which struggled to close the week to February 14 positively. Its price was down 0.1% week-on-week, against the base metals complex’s average weekly price gain of 1.3%. Net fund short position expanded again On the speculative front, LME aluminium’s net short fund position (NSFP) expanded to 34,844 lots in the week to February 7 after a second consecutive week of net selling....

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