Metals News
[Al] CBI Morning Review - 2008/12/25 Aluminum Market
data analysis
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Dec. 25 (CBI China) -- Overall market transactions were muted before Christmas holiday, while the trend of overnight LME aluminum was contrary to other base metals, three-month comprehensive trading was depressed severely at TECHX on 20th, the aluminum prices were subject to TECHX on 20th since its decline in mid-July, when aluminum price tended to touch this point, it will launch a new round of decline. Overnight three-month LME aluminum closed at USD 1,540/mt, down USD 20/mt, the spot premium remained at USD 33.5/mt, the inventories reached 2.25 million mt and may increase to 2.5 million mt. SHFE aluminum prices were likely to surge due to the favorable news of the reserves of aluminum and the production cuts in refined aluminum enterprises. However, the fundamentals were difficult to be improved, prices are expected to surge and then to decline with the pace of the latter faster than that of the former.
 

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