Wednesday 30 August 2017

EPIC RESEARCH MCX ALUMINIUM UPDATE OF 30 AUGUST 2017

Aluminium trading range for the day is 130.6-134.6. Aluminium rose tracking firmness in LME prices as support seen as the dollar sank after North Korea raised geopolitical tensions.LME aluminium stocks have climbed by around 40,000 tonnes since mid-month, as traders deliver metal rather than hold it given a blow-out in spreads. The premium for cash against three months prices however has sharply fallen from $11 to a $10 discount, suggesting large inflows may be on their way.



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