The rally in aluminium continued last week, even accelerating as prices reached $1,994/ tonne. The trading range for the week was $76/tonne, compared with a $48/tonne range the previous week. This week has shown no let-up in the upward momentum, we prices breaching $2,000/tonne on Monday for the first time since February 2013. The robust rally points to there being good buying interest around that is prepared to chase prices higher and that suggests either fund buying or short-covering, or both.
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