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[Al] CBI Morning Review - 2008/12/22 Aluminum Market
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Dec 7,2009

SHANGHAI, Dec. 22 (CBI China) -- As the White House put forward a new 17.4 billion dollar plan to rescue the automotive industry, the global financial climate improved slightly, London metal markets rebounded slightly last week, last Friday, LME aluminum prices closed at USD 1,515/mt, up USD 25/mt, the spot premium remained at USD 36.5/mt, and the inventory increased by 89,675 mt to 2.1586 million mt. As Christmas is approaching, the financial market sentiment begins to weaken, with lower possibility of strong fluctuations in prices in the coming week. In the domestic market, SHFE aluminum main contract continued to fluctuate around RMB 10,500/mt. However, with the continuous deterioration of consumption, the downward pressure on the prices has not been eased yet.
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