May 2012 | Base Metals
Lower prices have attracted bargain hunters: Aluminium - Market Analysis
Prices found support above $2,000/tonne. The fact that this level held suggests to us that the market is now starting to price in production curtailments. If cuts do not materialize – and even if they do – further price weakness cannot be ruled out in the short term, given the concerns about the fate of the euro.
Aluminium stock activity remains high
Aluminium stocks climbed a net 14,950 tonnes last week, with heavy two-way stock flow and cancelled warrants climbed even more with a further 88,675 tonnes cancelled. The inflow totalled 65,150 tonnes with 45,250 tonnes going into Detroit, 16,050 going into Vlissingen, 2,500 tonnes going into Baltimore and 1,350 tonnes going into Busan....
ACCESS RESTRICTED
You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.
SUBSCRIBE
Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.
Subscribe