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[Al] SMM Morning Review - 2009/9/4 Aluminum Market

[Cu] SMM Morning Review - 2009/9/4 Copper Market

SHANGHAI, Sept. 4 (SMM) -- The US Institute for Supply Management (ISM) announced on Thursday that the non-manufacturing index in August was 48.4, setting a record high since September 2008, with estimated index at 48.0, while the non-manufacturing business activity index was 51.3, higher than 50 for the first time since September 2008. The European Central Bank (ECB) announced on Thursday that it will remain its key interest rate unchanged at 1%, in line with market expectations. In addition, the Chief of ECB Jean-Claude Trichet pointed out that it is still not the right time to start exit mechanism.
&nbsp;&nbsp;&nbsp; LME base metal prices climbed driven by soaring lead prices, and LME aluminum prices grew slightly to USD 1,858/mt, and LME aluminum inventories declined by 3,000mt to 4,611,325mt. In domestic market, China Securities Regulatory Commission will promote the stable and healthy development of capital market through 4 measures, improving A-share stock market confidence, and the stabilized stock markets helped support metal prices, and SHFE aluminum prices will fluctuate around RMB 15,000/mt narrowly in the short term.
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