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Aluminium near 3-month low on Gulf supply hopes, strong US dollar
Aluminium prices stayed near a three-month low on the London Metal Exchange on Wednesday, as a strong dollar and hopes of a resumption in Middle East supply weighed. LME benchmark three-month aluminium edged up 0.17% to $3,238 a metric ton by 0300 GMT, after having plunged in the previous session. The most-traded aluminium contract on the Shanghai Futures Exchange lost 1.12% to 23,480 yuan ($3,453.50) a ton. Earlier in the session, it fell to a three-month low of 23,320 yuan a ton. Hopes of easing tensions between the US and Iran led to expectations that supply from the Middle East, which normally accounts for 9% of ... (full story)
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