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Home / Metal News / [Al] SMM Morning Review - 2009/10/20 Aluminum Market

[Al] SMM Morning Review - 2009/10/20 Aluminum Market

iconOct 20, 2009 00:00
Source:上海有色金属网

SHANGHAI, Oct. 20 (SMM) -- LME aluminum prices opened at USD 1,900/mt yesterday, and later hit the daily high of USD 1,947.5/mt, and closed at USD 1,946.8/mt finally.

    Both gold and crude oil have drawn more attention from investors since last week, and investors adopted a wait-and-see attitude towards the investment in base metals, resulting in weak fluctuations in base metal prices. Yesterday, crude oil prices hit a new high of USD 80.05/brarrel, while the US dollar index dropped to a new low of 75.19. Meanwhile, LME copper inventories declined after increased constantly, helping boost market confidence in base metals.

    SHFE aluminum prices are expected to move above RMB 15,000/mt today due to strong LME aluminum prices.

 

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