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SMM Morning Review - 2010/9/25 Aluminum Market

iconSep 25, 2010 00:00

SHANGHAI, Sept. 25 (SMM) -- China's financial markets were closed for Mid-Autumn Festival holidays. The US dollar index weakened further to 79.3 after breaking through the 80 mark on Wednesday, helping push up LME base metals prices. LME aluminum inventories fell to 4,369,550 mt, and the expectations of higher demand and a weaker US dollar helped drive up LME aluminum prices to break the USD 2,300/mt mark, with prices even climbing to USD 2,336/mt, setting a new high since April 27th, 2010. The strong gains in LME base metals prices will give a boost to SHFE aluminum prices next Monday.

LME Aluminum Prices (Sept. 21- 23) 

Date
Open
High
Low
Close
Change
Settlement
Sept. 21
2201.0
2217.5
2170.0
2173.0
-1.32%
2193.8
Sept. 22
2176.0
2239.0
2176.0
2238.0
2.99%
2206.8
Sept. 23
2235.0
2298.0
2235.0
2285.0
2.10%
2271.4

 

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