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Home / Metal News / [Al] SMM Morning Review - 2009/9/10 Aluminum Market

[Al] SMM Morning Review - 2009/9/10 Aluminum Market

iconSep 10, 2009 00:00
Source:上海有色金属网

SHANGHAI, Sept. 10 (SMM) -- On Wednesday, the FED Beige Book report showed the US economic conditions improved, helping drive up US stocks. Last night, the US dollar index continued to drop, as the borrowing costs have reached a low point, stimulating the investors to sell US dollar and switch to high-yield assets.

    LME base metal prices ended slightly lower, but any downward room for prices was limited due to weakened US dollar. LME aluminum prices closed at USD 1,890/mt, down USD 4.3/mt, and LME aluminum inventories declined by 2,150mt to 4,598,750mt, down for five consecutive days. In domestic market, SHFE aluminum prices moved down from high levels, and are expected to move around RMB 15,100/mt today.

 

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