EPIC RESEARCH MCX Aluminium UPDATE OF 24 January 2019

Aluminium trading range for the day is 133.4-137.6.

Aluminium prices dropped on profit booking after gained underpinned by signs of falling production in China.

Nearly three million tonnes of Chinese aluminium smelting capacity has closed and inventories are drawing on a counter-seasonal basis.

China's aluminium producers are set to cut at least another 800,000 tonnes per year of smelting capacity in coming months.

Warehouse stock for Aluminium at LME was at 1301825mt that is up by 200mt.


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