EPIC RESEARCH MCX ALUMINIUM UPDATE OF 07 AUGUST 2017

Aluminium trading range for the day is 120.5-122.1. Aluminium dropped as pressure seen as aluminum stocks in China’s five major markets, including SHFE aluminum stocks kept refreshing record highs. China Hongqiao Group Ltd, the world's largest maker of aluminium, said it plans to shut more than 2 million tonnes a year of outdated smelter capacity. China's crackdown on its bloated aluminium industry is driving up the prices and raising the spectre of a tighter global market.

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