April 2012 | Aluminium Weekly Market Tracker
Sentiment across the base metals remains bearish overall: Market Summary and Analysis
US aluminium premiums have hit 10 ¢/lb on the back of a combination of low aluminium prices, strong demand and tight supply conditions.
Sentiment across the base metals remains bearish overall and Monday’s poor PMI data out in China and the EU does not bode well. The downside in aluminium may be limited, but we feel lower prices are needed to trigger producer cutbacks.
Despite WBMS reporting a 287,000 tonne supply surplus in the first two months of this year and IAI data showing increased output, the physical market remains tight. Premiums for aluminium are reported to be tight in all regions, including in Southern Europe.
National Aluminium Company Ltd (Nalco) is looking to establish a new aluminium smelter of 500,000...
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