[Al] SMM Morning Review - 2009/9/17 Aluminum Market

SHANGHAI, Sept. 17 (SMM) -- Yesterday, LME three-month aluminum contract prices opened at USD 1,863/mt, as the Chairman of US Fed Bernanke said on Tuesday that the economic recession might be over, and the economic recovery will be a mild recovery. Base metal prices climbed yesterday positively affected by the remarks, and LME aluminum prices closed at USD 1,937/mt, up 3.75%.

    Yesterday, LME aluminum trading volumes increased significantly, bearing clear speculative color, and base metal prices are expected to rise further in the near future. Although the US dollar index will receive great pressure in the downward trend after it fell to 76, any positive impact from previous weaker dollar was very limited, so market players will likely switch their attention to market fundamentals and macro economic data from previous only market fundamentals in the short term. .

    LME aluminum prices reported marked increased yesterday, and will likely find some reductions today, with the fluctuation range estimated at USD 1,880-1,940/mt. 

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