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Monday 18 March 2019

EPIC RESEARCH MCX Aluminium UPDATE OF 18 March 2019

Aluminium trading range for the day is 143.6-147.4.

* Aluminium ended with losses as pressure continues as seasonal restrictions on aluminium output in northern Chinese cities are due to be lifted.

* Chinese Premier says China to cut value-added tax on April 1

* Some speculators on the ShFE had previously bet that the planned cut in VAT on China's manufacturing sector, to 13% from 16%, increasing the backwardation in aluminium.

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