Fund managers maintaining bearish stance While...
The challenging macro-economic backdrop constituting ongoing trade wars, weak economic data points and the uncertain demand outlook for the aluminium market easily justifies why its price action remains weak, which corresponds with the bearish net speculative funds positioning. LME fund managers have maintained their bearish stance for the third consecutive week now, with the most recent fresh selling of 6,246 lots in the week to August 9. This allowed aluminium's net short fund position to expand to 41,810 lots and if the trend continues, a revisit to the 2019 high of 45,323 lots remains highly possible.
Receive a free sample of market analysis and price forecasts.
Free SampleReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.
Subscribe