EPIC RESEARCH MCX Aluminium UPDATE OF 8 January 2019

Posted by Commodity Updates by Epic Research on 11:23:00 with No comments

Aluminium trading range for the day is 128.4-132.4.

Aluminium gained after China took measures to boost lending following a contraction in industrial growth.

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.299 million mt as of Monday.

China's central bank said it was cutting reserve requirement ratios (RRRs) –for the fifth time in a year, freeing up $116 billion for new lending.

Warehouse stock for Aluminium at LME was at 1276050mt that is down by -2450mt.

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