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Aluminium touches near two-month peak, but seen vulnerable

From uk.reuters.com

Aluminium prices climbed to the highest in nearly two months on Friday, but they were likely to run out of steam with producers on the sidelines ready to hedge, analysts said. The price of aluminium, mainly used in transport, construction and packaging, has rallied 6% over the past two week, largely fuelled by bearish investors buying back their short positions. But the global market is expected to flip into a surplus next year, according to analysts polled by Reuters. "I think whether it's got legs from here is pretty questionable. You don't have anything to suggest that the fundamentals are improving," said ... (full story)

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