[Al] CBI Morning Review - 2009/4/8 Aluminum Market

SHANGHAI, Apr. 8 (CBI China) -- On Tuesday, Fed announced that the consumer credit loans during February declined by 3.5%, more than the 1.5% level of economist prediction, that is to say, the total credit loans declined by USD 7.48 billion. The European Union announced the GDP in 4Q was down 1.6% on a quarterly basis after revised, the industrial output during February in Britain declined by 12.5% on a yearly basis, the largest decline rate since 1968. Overnight LME base metals rose generally, and LME copper rose to a 5-month high due to declining inventories, while LME aluminum increased to USD 1,467.5/mt, up USD 6.5/mt, following the rising trend of copper price. The inventories increased by 36,925mt to 3,511,225mt. The supply will remain tight in domestic market in the short term, so aluminum price will remain at high.

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