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ALUMINIUM-Major market developments in June
Edited by : AL CIRCLE
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PRICES
Aluminium prices ended June at $2,532 a tonne, down from $2,675 the previous month.
After an early high of $2,695, the market tended to have a downwards bias through to the end of the month as global demand worries weighed.
In early May, the market hit $2,803, its highest since August 2008.
The month's low of $2,482 was recorded on June 27 as investors remained cautious over continuing uncertainty about the debt crisis in Greece and U.S monetary policy.
Attempts to rebound from there ran out of steam around the $2,600 mark and prices retreated on worries that the euro zone debt crisis was spreading to Italy and Spain.
According to the latest Reuters poll in January, aluminium cash prices are expected to average $2,484 a tonne in 2011 compared with $2,173 last year.
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