View full page at metalsmine.com

 

Aluminium prices gain on weaker dollar, softer US rate hike bets

From brecorder.com

Aluminium prices rose on Friday, supported by a weaker dollar and easing concerns over an imminent US interest rate hike. Benchmark three-month aluminium on the London Metal Exchange was up 0.53% at $3,108 a metric ton by 0300 GMT. The most-traded aluminium contract on the Shanghai Futures Exchange climbed 1.18% to 22,755 yuan ($3,355.60) a ton. The market was closely watching macroeconomic conditions, which offset pressure from announcements this week suggesting improved aluminium supply prospects. In a note published overnight, Citi said concerns over a rapid return of Middle East supply appeared overstated and ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis