January 2012 | Base Metals
Higher prices reducing the chance of the extra cutbacks that this market needs: Aluminium - Market Analysis
The rally has halted for now and prices are slipping. Alloy prices are holding up well, but for both alloy and primary we think prices will be heading lower again before long, as we expect the economic background to remain bearish.
Stocks show more cutbacks are needed
LME stocks fell 14,275 tonnes last week, but the trend in recent weeks has been one way with stocks rising 450,000 tonnes since the start of December. On top of that, stocks in Shanghai warehouses have climbed 60,000 tonnes over the same period. The rapid pick-up in LME stocks in December suggests...
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