Thursday, 11 May 2017

EPIC RESEARCH MCX ALUMINIUM UPDATE OF 11 MAY 2017

Aluminium trading range for the day is 119.8-121.6. Aluminium dropped tracking weakness in LME prices slipped 0.3 percent to $1,865 a tonne as investors turned to equities and oil. Traders are also watching large holdings of aluminium cash contracts and warrants, which could also tighten nearby supplies on the LME market. China might cut aluminum production by as much as 1-1.5 million tonnes during winter heating season.

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