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Aluminum commodity slides for sixth straight session after FOMC minutes
Edited by : AL CIRCLE
1 min read
Aluminum posted its sixth straight session of losses. The tone turned negative early in Wednesday's London Metal Exchange session following the release of Federal Open Market Committee minutes late Tuesday that removed hopes of imminent U.S. monetary easing, Triland Metals says.
"However the mood worsened in the afternoon following what was seen as a weak Spanish auction that ended up increasing the yields in most of southern European economies, a fresh blow for the euro," Triland says.
"Even fair ADP job numbers from the U.S. did little…Activity could well pick up tomorrow as many will be looking to square their position ahead of the long (Easter) weekend.
" LME three-months aluminum closed down $32 to $2,087.50 an ounce. LME copper, nickel, zinc, Lead and Tin also finished lower.
"However the mood worsened in the afternoon following what was seen as a weak Spanish auction that ended up increasing the yields in most of southern European economies, a fresh blow for the euro," Triland says.
"Even fair ADP job numbers from the U.S. did little…Activity could well pick up tomorrow as many will be looking to square their position ahead of the long (Easter) weekend.
" LME three-months aluminum closed down $32 to $2,087.50 an ounce. LME copper, nickel, zinc, Lead and Tin also finished lower.
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