Friday, 12 May 2017

EPIC RESEARCH MCX ALUMINIUM UPDATE OF 12 MAY 2017

Aluminium trading range for the day is 119.5-122.5. Aluminium gained as support seen on news that China might cut aluminum production by as much as 1-1.5 million tonnes during winter heating season. Aluminum consumption in China will grow 7-10% this year and the next and aluminum capacity in China will climb to 45 million tonnes by 2020. Surveys of manufacturers from China showed activity slowing in April, while trade data showed import growth slowing and export growth halving.

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