By Wenyu Yao
Expectations of a bear trend may be misplaced this autumn. Instead, the risk to prices is more skewed to the upside in a reflationary macro environment. Fundamentals do have room to play out, but there is uncertainty in the short-term and China's market is still key
For producers, the strength in prices suggests few are losing money
Aluminium continued its upward march during August, with LME 3M prices shooting over US$1,800/t last week, erasing all of the losses so far this year. Prices are running above most of the marginal producers' costs,