February 2018 | Aluminium Weekly Market Tracker
Al price surged following the US recommendation: Market Summary and Analysis
LME warehouses have suffered a large influx of aluminium in the past week.
Al price surged following the US recommendation While the weekly average LME aluminium cash price registered another week-on-week decline, falling 1.3% to $2,149/tonne from previous week’s $2,178/tonne, the price ended the week on a strong note – the cash price jumped to $2,189.5/tonne on Friday from $2,164/tonne the day before. The reason was the release of US Commerce Department recommendations on aluminium imports. LME warehouses saw a large influx last week LME warehouses have suffered a large influx of aluminium in the past week. The total inflow was 223,825 tonnes, mostly into Asian locations, with Port Klang receiving the bulk of the metal. On Tuesday (Feb 13th) alone, LME aluminium inventory surged 158,925 tonnes or 14.2% – total inventory was standing at 1,275,500 tonnes after the surge and metal on warrant was back above one million tonnes. US aims to increase its capacity utilisation to 80% While it is not...
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