Aluminium: Gradual Price Recovery Expected

Consensus Forecasts

Aluminium has picked up from recent declines, but remains below US$2000/tonne owing to continued weak demand conditions and a perceived glut in supply.
Indicators from China, the world’s largest consumer of the base metal remain mixed, and Beijing’s attempts to keep a lid on the booming housing sector has restrained the near term price outlook.
The LME and some Wall Street banks have come under increased scrutiny, with reports of long waiting times to access aluminium from warehouses and accusations of anti-competitive behaviour.

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