Having reached a high of $2,174/tonne on February 15, aluminium prices have retreated, they fell to a low of $2,061.75/ tonne on Friday, a drop of 5.2%. Last week prices held above the mid-January low at $2,031.75/tonne, which meant prices were still trading within an elongated sideways channel that had been in existence since early January. The fact prices have been holding within a sideways trend has implied the market is fairly well balanced.
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