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Home / Metal News / [Al] SMM Morning Review - 2009/11/23 Aluminum Market

[Al] SMM Morning Review - 2009/11/23 Aluminum Market

iconDec 7, 2009 13:16

SHANGHAI, Nov. 23 (SMM) -- LME aluminum prices opened at USD 2,049/mt last Friday, with highest and lowest level at USD 2,060/mt and USD 2,005/mt, respectively, and finally prices ended at USD 2,050/mt.  Total trading volumes reported 8,133 lots, and positions were 688,016 lots.

    Gold futures prices have set new highs for six consecutive days last week, and global inflation expectations were prevailing, and will continue before the US loose monetary policy changes. The US dollar index continued to fluctuate in the 74.5-75.8 range recently, while market demand and inflation expectations were playing an increasing important role in determining base metal prices.

    LME aluminum prices stood firm at USD 2,000/mt last Friday, with a further gain in the future. SMM predicts SHFE three-month contract aluminum prices will move in the RMB 15,600-15,800/mt range today.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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