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Home / Metal News / [Al] CBI Morning Review - 2009/7/17 Aluminum Market

[Al] CBI Morning Review - 2009/7/17 Aluminum Market

iconJul 17, 2009 00:00
Source:上海有色金属网

SHANGHAI, July 17 (CBI China) -- The US Department of Labor announced the number of initial claim for unemployment benefits during last week was 522,000, lower than estimated level of 565,000 and also the lowest since January. The National Bureau of Statistics announced that the GDP in 2Q grew 7.9% YoY, higher than the Reuters survey of 7.5%. Overnight LME base metal prices advanced due to better than expected number of US initial claim for unemployment benefits and strongly rebounding China's economic growth. LME aluminum price closed at USD 1,690/mt, up USD 38/mt. LME aluminum inventories increased by 550mt to 4,512,525mt. Aluminum price will move in the high level in domestic spot market in the short term.

 

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