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Home / Metal News / [Al] CBI Morning Review - 2009/6/17 Aluminum Market

[Al] CBI Morning Review - 2009/6/17 Aluminum Market

iconJun 17, 2009 00:00
Source:上海有色金属网

SHANGHAI, June 17 (CBI China) -- The U.S. Department of Commerce announced that the annual rate of housing starts in May rose by 17.2%, while the rate was down 12.9% in April. The U.S. Federal Reserve Board announced: the US industrial output in May fell by 1.1% MoM, while the market players predicted it would fall by 0.9%. The mixed economic data generated the market concerns over the economic recovery.

    LME aluminum was boosted by weakened US dollar in the morning, but then was dampened by falling US industrial output, and closed at USD 1,595/mt, down USD 10/mt. The inventories increased by 47,225mt to 4,322,300mt. Market supply will remain tight for some time, SHFE three-month contract aluminum price is expected to fluctuate above RMB 13,200/mt narrowly.

 

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