EPIC RESEARCH MCX Aluminium UPDATE OF 1 November 2018

Posted by Commodity Updates by Epic Research on 11:56:00 with No comments

Aluminium trading range for the day is 144-148.

* Aluminium ended with small gains on short covering after prices remained under pressure amid weaker-than-expected Chinese manufacturing PMI.

* Amid rising headwinds from the Sino-U.S. trade war, China's official Purchasing Managers' Index dropped to 50.2 in October from 50.8 in September.

* The latest reading suggests a further slowing in economy and could prompt more policy support from Beijing on top of a raft of recent initiatives.

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