首页|Aluminium dn on stock build, Copper dn on technicals
Aluminium dn on stock build, Copper dn on technicals
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NSTL
Aluminum at the London Metal Exchange fell sharply after the emergence of a 17,750 metric-ton inventory build while copper became the victim of a late technical sell-off. Aluminium fell to a five-month low at 1,342.50 dollars a metric ton in the pre market as longs liquidated positions after the stock announcement, which dealers said was proof of the poor physical demand for the metal at present. Fund selling was said to be dominant in aluminum.The bearish mood soon spilled over to the copper market, where prices were forced down to a two-week low at 1,586 dollars/ton, just above support at 1,535 dollars/ton. "It's just a technical sell-off ahead of the weekend," said Lawrence Eagles, metals analyst at GNI Research. "We had relatively positive data from the U.S. and it just didn't budge."