Metals News
[Al] CBI Morning Review - 2008/12/4 Aluminum Market
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01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 4 (CBI China) -- LME Aluminum prices plunged USD 75/mt overnight, overnight three-month contract of LME Aluminum closed at USD 1,620/mt, once reached USD 1,607/mt the lowest price since May 2004.  In addition to the extreme weak fundamentals of refined aluminum, capital operation is also one of the major factors of successive price setback. Consecutive downward limits of SHFE aluminum prices indicated recent market recognized prices decline. CBI believes domestic aluminum prices only can stop falling unless China's refined aluminum producers will conduct a second round of large-scale production cut. Otherwise, oversupply will aggravate in market and price will plunge further with no reverse.


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