Metals News
[Al] CBI Morning Review - 2008/12/17 Aluminum Market
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01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 17 (CBI China) -- Overnight the Federal Reserve cut interest rates sharply by 75 basis points, with the target rate setting at 0-0.25%. Dollar index declined sharply, however, base metals were hard to boost, overnight three-month LME aluminum closed at USD 1485/mt, only up USD 7/mt, the premium remained at USD 40.5/mt, the inventories increased further by 10100 mt to 1.9427 million mt. SHFE aluminum fell sharply yesterday, today SHFE aluminum is expected to fall further. Prices is hard to pick up, and will fluctuate narrowly and fall to test RMB 10000/mt.


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