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Barclays forecasts1.8Mt market surplus for Aluminium in 2013

Posted on 18 February 2013

Barclays forecast a 1.8Mt market surplus for aluminium in 2013, which would drive the stock-to-consumption ratio to more than nine weeks over the course of the year. There is more diversity in perspective on the aluminium market this year, they said.
The standout performer over the past week has been aluminium, where LME cash prices have risen to a six-week high just below $2,150/t. Barclays believe the move has largely stemmed from technicals and some subsequent CTA buying, with underlying fundamental conditions firmly in a surplus dynamic………………………………………..Full Article: Source


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