EPIC RESEARCH MCX ALUMINIUM UPDATE OF 23 MARCH 2017

Aluminium trading range for the day is 123.6-127. Aluminium prices recovered from lows as support seen after substantial increases in cancelled warrants. Prices also seen supported amid renewed calls for an appropriate response to overproduction in China’s aluminium sector. Total cancelled warrants are now their highest since July last year at 895,255 tonnes, of which almost 225,000 tonnes were booked this week.

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