July 2012 | Base Metals
A strong growth in aluminium output continues to keep the prices constrained: Aluminium - Market Analysis
The latest data from the IAI shows aluminium continued to expand in June – this suggests that although some cutbacks are being made, more capacity is still coming on stream. This in turn suggests prices may have to fall further to trigger the much needed production cutbacks.
The spread of cancelled warrants increasesActivity on stocks continues to muddy the waters with LME stocks rising a net 28,950 tonnes last week, while stocks in Shanghai Exchange warehouses increased 8,372 tonnes. The gross inflow into LME warehouses climbed to 74,700 tonnes over the week from 37,350 tonnes the week before. Outflows remained relatively steady at 9,150 tpd compared with 10,520 tpy...
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