SMM Morning Review - 2010/6/12 Aluminum Market -Shanghai Metals Market

Hot Keywords

  • Zinc
  • Inventory data
  • Rare earth
  • Copper scrap
  • Copper
  • Evening comments
  • Market commentary
  • SMM
  • Morning comments
  • Aluminium
  • MMi Iron Ore Port Index
  • Futures movement
  • Cobalt
  • price forecast
  • Environmental protection drive

SMM Morning Review - 2010/6/12 Aluminum Market

SMM Insight 10:33:47AM Jun 12, 2010 Source:SMM

SHANGHAI, June 12 (SMM) – LME aluminum market overnight fluctuated weakly. LME aluminum prices opened at USD 1,964/mt in the ring, with the high-end at USD 1,964.3/mt, and the low-end at USD 1,933.2/mt, and stabilized at USD 1,945/mt at the tail of trading, down USD 3.2/mt or 0.16% from a day earlier. Total positions increased to 781,365 lots, with stocks down by 6,600 mt to 4.497 million mt, dropping less than 4.5 million mt again. The US announced retails sales data for May on Friday, down 1.2% on a monthly basis, which was lower than expected. Later, the stronger-than-expected US consumer confidence index relieved concerns over slowing economic recovery from the weaker retails sales data. On Friday, the US dollar index advanced above 87.2.

To contact the writer on this report: ericzhang@smm.cn 

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

SMM Morning Review - 2010/6/12 Aluminum Market

SMM Insight 10:33:47AM Jun 12, 2010 Source:SMM

SHANGHAI, June 12 (SMM) – LME aluminum market overnight fluctuated weakly. LME aluminum prices opened at USD 1,964/mt in the ring, with the high-end at USD 1,964.3/mt, and the low-end at USD 1,933.2/mt, and stabilized at USD 1,945/mt at the tail of trading, down USD 3.2/mt or 0.16% from a day earlier. Total positions increased to 781,365 lots, with stocks down by 6,600 mt to 4.497 million mt, dropping less than 4.5 million mt again. The US announced retails sales data for May on Friday, down 1.2% on a monthly basis, which was lower than expected. Later, the stronger-than-expected US consumer confidence index relieved concerns over slowing economic recovery from the weaker retails sales data. On Friday, the US dollar index advanced above 87.2.

To contact the writer on this report: ericzhang@smm.cn 

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn