06 JANUARY 2014www.commodityonline.com
LME Aluminum stockpiles fall marginally by 22,900 MT last week
Edited by : AL CIRCLE
1 min read
The Aluminum inventories declined marginally by 22,900 MT in the last week. However, from a broader perspective, aluminum stockpiles have increased by 116,750 MT since the month of Nov ember as per the data av ailable from the LME warehouses.
--Aluminum ended Friday's trading session lower by 1.6% at the LME platform broadly declining along with the other base metals in the pack.
--The Aluminum inventories declined marginally by 22,900 MT in the last week. However, from a broader perspective, aluminum stockpiles have increased by 116,750 MT since the month of Nov ember as per the data av ailable from the LME warehouses.
--During the day, we have a ranged view on aluminum. We also hold a similar view on the commodity for the week as on one hand, it might get support from the positive economic data from the US and the increase in the US Midwest premiums from $11.75/lb to$13.25/lb. However, aluminum might take negative cues from the stronger dollar and persistently higher inventories, which continue to remain at elevated levels.
--Aluminum ended Friday's trading session lower by 1.6% at the LME platform broadly declining along with the other base metals in the pack.
--The Aluminum inventories declined marginally by 22,900 MT in the last week. However, from a broader perspective, aluminum stockpiles have increased by 116,750 MT since the month of Nov ember as per the data av ailable from the LME warehouses.
--During the day, we have a ranged view on aluminum. We also hold a similar view on the commodity for the week as on one hand, it might get support from the positive economic data from the US and the increase in the US Midwest premiums from $11.75/lb to$13.25/lb. However, aluminum might take negative cues from the stronger dollar and persistently higher inventories, which continue to remain at elevated levels.
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