Aluminium Market Eying on “Two Sessions” amid Mixed Macro Front and Fundamentals

SHANGHAI, Mar 6 (SMM) – Fears of interest rate hikes in Europe and the US will continue to put pressure on the commodity market, but Chinese economic recovery and anticipations for favourable policies during the National People's Congress and the Chinese People's Political Consultative Conference (short as “Two Sessions”) will support aluminium prices. Considering that both fundamentals and macro front are intertwined with bullish and bearish factors, the short-term aluminium prices may maintain rangebound fluctuations. The most-traded SHFE aluminium contract and LME aluminium are likely to move between 18,200-19,200 yuan/mt and $2,300-2,480/mt respectively this week.