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Home / Metal News / [Al] CBI Morning Review - 2009/7/27 Aluminum Market

[Al] CBI Morning Review - 2009/7/27 Aluminum Market

iconJul 27, 2009 00:00
Source:上海有色金属网

SHANGHAI, July 27 (CBI China) -- The University of Michigan announced last Friday that the US consumer confidence index in late July rose to 66.0, higher than early July’s level of 64.6. The German IFO business climate index rose to 87.3 during July, while this index was 85.9 during June, and analysts predicted it would rise to 86.5. The business climate index has risen for 4 consecutive months, signaling the global economy has recovered from the most serious recession since World War II. The positive economic data stimulated speculative funds to flow into commodity markets.

    Last Friday, LME base metal prices continued to rebound. LME aluminum price closed at USD 1,812/mt, up USD 32/mt. LME aluminum inventories declined by 1,125mt to 4,552,525mt. Propelled by favorable surrounding market conditions, SHFE aluminum price will fluctuate higher to RMB 14,500/mt.

 

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