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Aluminum prices are expected to see little movement prior to the release of China’s economic data for December. LME aluminum should stagnate at USD 2,060/mt and fluctuate in the band of USD 2,040-2,080/mt on Wednesday. The SHFE 1303 aluminum contract is expected to meet resistance at RMB 15,300/mt, with prices between RMB 15,200-15,295/mt. Low-priced goods should hardly be seen, with spot discounts expected between RMB 0-40/mt. Downstream producers will purchase on an as-needed basis, with only middlemen active in bargain-hunting, leaving overall trading moderate.
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