[Al] CBI Morning Review - 2009/7/1 Aluminum Market

SHANGHAI, July 1 (CBI China) -- The Conference Board announced on Tuesday that the US consumer confidence index during June fell to 49.3, while analysts predicted it would rise to 55.3, and the consumer confidence index was 54.8 during May. The increasing concerns with regard to employment and economy dampened the consumer confidence index in May. The unexpected falling consumer confidence index triggered a wave of risk avoidance, and the US dollar advanced to 80.

    Dampened by the stronger US dollar and the demand concerns during seasonal low demand period, LME base metal prices fell. Positively affected by recent tightness of spot supply in European and US markets, LME aluminum price closed at USD 1,630/mt, only down USD 10/mt. The inventories increased by 27,350mt to 4,398,350mt. SHFE aluminum price will continue to move in the RMB 13,200-13,500/mt range in the short term.

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