EPIC RESEARCH MCX Aluminium UPDATE OF 5 February 2019

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

Aluminium trading range for the day is 133.2-140.

Aluminium gained as overdone given falling stockpiles and efforts by top consumer China to stimulate growth.

Aluminium stocks in LME approved warehouses stand at 1.3 million, near their lowest since May 2018, while stocks in ShFE warehouses are at 690,000 tonnes, down 30 percent since last May

CME Group has reinstated approved status for warranting aluminium produced by United Company Rusal after U.S. sanctions were lifted against the company.

Warehouse stock for Aluminium at LME was at 1297150mt that is up by 13025mt.

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