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Home / Metal News / [Al] SMM Morning Review - 2009/9/7 Aluminum Market

[Al] SMM Morning Review - 2009/9/7 Aluminum Market

iconSep 7, 2009 00:00
Source:上海有色金属网

SHANGHAI, Sept. 7 (SMM) -- The US Labor Department announced last Friday that the number of non-farm employment in August fell by 216,000, setting a record low since August 2008, while analysts predicted the number would decline 230,000. The number in July was revised to a decline of 276,000. The unemployment rate in August rose to 9.7%, setting a 26-year high, while the analysts predicts it would rise to 9.5%.

    The non-farm employment data from the US was mixed, and LME base metal prices last Friday were mixed as well. LME lead prices continued to rise positively affected by the closure of Chinese lead smelters, while LME aluminum prices closed at USD 1,842/mt, down USD 16/mt, and LME aluminum inventories decreased by 3,725mt to 4,607,600mt. In domestic market, SHFE aluminum prices hovered around RMB 15,000/mt, with the possibility of further rise. 

 

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