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Home / Metal News / [Al] CBI Morning Review - 2009/6/3 Aluminum Market

[Al] CBI Morning Review - 2009/6/3 Aluminum Market

iconJun 3, 2009 00:00
Source:上海有色金属网

SHANGHAI, June 3 (CBI China) -- The National Association of Realtors reported on Tuesday that the US existing home sales index in April rose by 6.7%, while the analysts predicted it would rise by 0.5%. The unemployment rate in euro zone was up for 13 consecutive months to 9.2%, hitting a record high since September 1999. The market players predicted the US would issue large volumes of bonds, which will weaken the status of the US dollar, so the US dollar continued to weaken.

    LME base metal prices fell due to profit-taking. LME aluminum price closed at USD 1,470/mt, down USD 20/mt. The inventories increased by 5,250mt, bringing total inventories to 4,242,475mt. The impact of investment capital on SHFE aluminum market was weak, so aluminum price is expected to fluctuate narrowly in the short run.

 

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