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Home / Metal News / [Al] CBI Morning Review - 2009/6/25 Aluminum Market

[Al] CBI Morning Review - 2009/6/25 Aluminum Market

iconJun 25, 2009 00:00
Source:上海有色金属网

SHANGHAI, June 25 (CBI China) -- The Fed announced last night that the interest rate of the federal funds will remain unchanged, closing to zero, and also said in a statement that the speed of economic contraction has slowed after the meeting. The U.S. Department of Commerce announced on Wednesday that the US new home sales during May fell by 0.6% compared to April, with annual rate of 342,000 (estimated at 360,000), meanwhile it announced the durable goods orders grew by 1.8% during May, with market forecast of 0.6% decline.

    The unexpected significant increases in durable goods orders in the US stimulated the market expectations over the US demand recovery. LME base metal prices soared boosted by the positive economic data. LME aluminum price closed at USD 1,650/mt, up USD 44/mt. The inventories declined by 2,500mt to 4,351,575mt. The domestic seasonal low demand period limited the upward room for SHFE aluminum price, so aluminum price will remain high in the short term. 

 

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