July 2012 | Base Metals
Lower cost curve may mean prices trade lower: Aluminium - Market Analysis
We still believe that aluminium prices may have to fall further to trigger smelter cutbacks, but for now prices may attempt to build a base.
There is little room for complacency
The fundamentals on aluminium remain bearish, global production continues to rise with output in May 5.8% higher than in April and 2.5% higher than in December. Given the economic outlook and the high levels of stocks both on and off exchange, there is just too much aluminium around. For now the surplus...
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