Tuesday, 7 August 2018

EPIC RESEARCH MCX Aluminium UPDATE OF 7 August 2018

Aluminium trading range for the day is 137.9-141.9.

* Aluminium gained in anticipation of winter production cuts and inventory across China continued to decrease and consumption remained solid.

* China’s eastern Shandong province has unveiled new targets to cut steel and coal production capacity, eliminate outdated aluminium smelters.

* Aluminium billet inventory grows for five weeks - Sluggish consumption in the low season grew inventories for a fifth consecutive week as of Aug 2.

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