EPIC RESEARCH MCX Aluminium UPDATE OF 12 October 2018

Posted by Commodity Updates by Epic Research on 12:30:00 with No comments

Aluminium trading range for the day is 148.3-152.5.

Aluminium dropped after Norsk Hydro said it would resume half production at its giant Brazilian alumina plant, just days after declaring it would shut down completely.

Chinese aluminium exports are expected to surge in coming months and next year after Beijing boosted tax rebates as part of a package to soften the impact of trade war.

Norway's Norsk Hydro is focused on a return to full output at its Alunorte alumina refinery in Brazil and is not contemplating layoffs there.

Warehouse stock for Aluminium at LME was at 941500mt that is down by -6925mt.

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