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Home / Metal News / [Al] CBI Morning Review - 2009/6/19 Aluminum Market

[Al] CBI Morning Review - 2009/6/19 Aluminum Market

iconJun 19, 2009 00:00
Source:上海有色金属网

SHANGHAI, June 19 (CBI China) -- The U.S. Department of Labor announced on Thursday that the number of US week initial claims for unemployment benefits on June 13th increased to 608,000, while the market forecast was 600,000. On June 6th, the number of US continued claims for unemployment benefits fell to 6.687 million, the first drop since January 3rd 2009, and hitting the largest decline since November 24th 2001, while the market forecast was 6.85 million. The Federal Reserve Bank of Philadelphia announced that manufacturing index in June was negative 2.2, while the market forecast was negative 17.0.

    Supported by the positive US manufacturing and employment data, LME aluminum price closed at USD 1,640/mt, up USD 5/mt, and the inventories increased by 12,675mt to 4,371,775mt. Aluminum price is expected to remain high in the short term due to weak domestic demand and shortages of upward momentum.

 

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