[Al] CBI Morning Review - 2009/4/15 Aluminum Market

SHANGHAI, Apr. 15 (CBI China) -- The U.S. Department of Commerce announced Tuesday that the U.S. retail sales in March were down 1.1%, with up 0.3% during February and up 0.3% as the prediction of analysts. The U.S. producer price index (PPI) during March fell by 1.2% accidentally, with up 0.1% during February, and as same as the prediction of economists. The retail report shows the economic data fluctuated widely currently, and the U.S. stock closed downwardly on Tuesday due to negative economic data.

    Overnight LME base metals prices inched up driven by rising Chinese market during the previous two days. LME copper price soared to the highest point with 6 months, while LME aluminum closed at USD 1,512/mt, down USD 27/mt, due to significant increases in the inventories. The inventories increased sharply by 100,100mt to 3,651,275mt. The imported aluminum arrived at the port gradually, leading to ample market supply and dampening the support for the spot price, so SHFE aluminum will meet adjustments after backs to the fundamentals.

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