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[Al] CBI Morning Review - 2009/7/22 Aluminum Market

iconJul 22, 2009 00:00

SHANGHAI, July 22 (CBI China) -- The U.S. Federal Reserve Board (FED) Chairman Ben Bernanke said to Congressman that the U.S. economy is still quite weak, which can not allow the FED to tighten its monetary policy in the short term. The Federal Reserve Bank of Chicago National Activity Index in June rose to a negative 1.80, higher than the negative 2.30 in May, also the highest level since October 2008, indicating a gradual improvement in economic growth.

    Overnight LME base metal prices dipped. LME aluminum price closed at USD 1,715.5/mt, down USD 2/mt, and the inventories increased by 35,175mt to 4,555,350mt. SHFE aluminum price will return to the fluctuating range recently.

 

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