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Home / Metal News / [Al] SMM Morning Review - 2009/9/30 Aluminum Market

[Al] SMM Morning Review - 2009/9/30 Aluminum Market

iconSep 30, 2009 00:00
Source:上海有色金属网

SHANGHAI, Sept. 30 (SMM) -- On Tuesday, Standard & Poor said the U.S. single-family house prices in July
Increased compared to June, with the growth rate higher than expected, helping support housing market to recover from three-year recession. Positively affected by this data LME aluminum prices soared, even after the Conference Board consumer confidence index in September was worse than expected.

    Yesterday, LME aluminum prices opened at USD 1,831/mt, and rebounded strongly after hit the lowest level of USD 1,804/mt, and closed at USD 1,849/mt finally. SMM believes LME aluminum prices are expected to climb further during National Day holiday. Investors closed positions due to the approach of week-long holiday, so aluminum prices will report little changes today.

 

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