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Overnight the U.S. National Association of Home Builders announced the monthly report concerning the market forecast of the home builders, showing the single-family home sales index in May rose to 16, hitting a new high since September last year, hinting that the most difficult period of the home builders may be drawing to a close, leading to the sharp rebounding US stock. In addition, a fire in a refinery in the United State and a riot in Nigeria pushed up the crude oil price to USD 60/barrel.
Affected by various favorable news base metal prices showed a weak performance in early trading, but rose propelled by LME copper in closing trading. Overnight LME aluminum price closed at USD 1,525/mt, up USD 3.5/mt. Today, SHFE aluminum price is expected to continue to fluctuate narrowly due to current overall weary consumption.
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