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[Al] SMM Morning Review - 2009/8/25 Aluminum Market

iconAug 25, 2009 00:00

SHANGHAI, Aug. 25 (SMM) -- Federal Reserve Bank of Chicago announced on Monday that the Midwest manufacturing index during July rose for the first time over one year after seasonal adjustments, stimulated by rising output in automobile manufacturing sector under the "Cash for Clunkers" program launched by the White House. LME base metal prices showed mixed trend, and LME lead prices reported strongest performance, and soared to USD 2,000/mt, up more than 6%. LME aluminum prices closed at USD 1,927/mt, down USD 11.5/mt, and LME aluminum inventories declined by 3,250mt to 4,620,075mt. In domestic market, SHFE aluminum prices will continue to test the support level of RMB 15,000/mt.

 

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