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Monday 31 December 2018

EPIC RESEARCH MCX Aluminium UPDATE OF 31 December 2018

Aluminium trading range for the day is 127.2-133.

* Aluminium dropped on profit booking after prices seen supported amid recent supply cuts and some 800,000 mt capacity cuts agreed among Chinese biggest firms.

* With the arrival of winter, industrial output has taken a hit as the government intensifies a crackdown on pollution to restrict production in smoke-belching factories.

* China’s top steelmaking city Tangshan asked steel mills earlier this month to cut extra output.

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