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