Metals News
[Al] CBI Morning Review - 2009/1/6 Aluminum Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Jan. 6 (CBI China) -- The U.S. dollar rising delivered pressure on the base metal, overnight LME aluminum closed at USD 1550.5/mt, down 24.5/mt. In order to implement the decision of State Council and maintain the steady growth of foreign trade, the Ministry of Commerce and the General Administration of Customs adjusted the processing trade prohibition catalog, and will remove the processing trade restriction of the products including non-alloy strip, wire rod, profile, profiled bar and aluminum wire on Feb. 1st, which has little actual effect. SHFE aluminum prices are likely to fluctuate slightly following the trend of the foreign trading, and soft consumption fundamentals will deliver pressure on aluminum prices.

 

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