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[Al] SMM Morning Review - 2009/9/2 Aluminum Market

[Cu] SMM Morning Review - 2009/9/2 Copper Market

SHANGHAI, Sept. 2 (SMM) -- The US Institute for Supply Management (ISM) announced on Tuesday that the manufacturing index in August was 52.9, higher than 50 for the first time since January 2008, with estimated index at 50.5. The US Department of Commerce released on Tuesday that the US construction spending in July reduced by 0.2% to USD 958 billion, flat at economists estimated level, while the construction spending in June was revised to a 0.1% growth from a 0.3% growth, partly offsetting the positive impact from upbeat manufacturing index.
&nbsp;&nbsp;&nbsp; Last night, the US stock markets slumped, generating the sell-off activities of investors. In the mean time, investors switched to US dollar for risk aversion, resulting in rising US dollar index. Negatively affected by plunged US stock markets and strengthened US dollar index, LME base metal prices slipped, and both LME nickel and copper prices experienced largest declines. LME aluminum prices closed at USD 1,850/mt, down USD 45.5/mt, and open interest continued to decrease to 744,000 lots. In domestic market, yesterday CHALCO raised spot alumina prices, exerting limited support on aluminum prices, so any downward room for SHFE aluminum prices is expected to be limited in the short term.
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[Ni] SMM Morning Review - 2009/9/2 Nickel Market

[Al] SMM Morning Review - 2009/9/2 Aluminum Market_SMM | Shanghai Nonferrous Metals

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