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Aluminum is expected to trade in a tight range due to a lack of market direction. LME aluminum should test support at USD 2,050/mt and fluctuate in the band of USD 2,040-2,080/mt on Tuesday. The SHFE 1303 aluminum contract is expected to open at RMB 15,300/mt, with prices between RMB 15,250-15,350/mt. Traders will hold offers firm, while downstream producers and middlemen should go bargain-hunting, with spot discounts expected between RMB 30-70/mt.
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