首页|Market Special: Aluminum probing lower after LME stock rise
Market Special: Aluminum probing lower after LME stock rise
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NSTL
Aluminum edged closer to the critical 1,400 dollars a metric ton support level as a 25,275 tons rise in London Metal Exchange warehouse stocks took the market by surprise and dampened the market's recently improved sentiment.The rises were mostly seen in Hamburg, with the balance in Singapore, taking total LME aluminum stocks to 1,168,900 tons. In the currently lackluster demand environment, dealers said the rise in likely to see three-month metal target the 1,390 dollars/ton level, below which sell stops are located and a move to 1,380 dollars/ton seen possible. The fund buying that held prices above 1,400 dollars/ton and had looked set to keep momentum on the upside has now been erased, dealers added.
NSTL
