首页|LME Review: Aluminum ends higher on stock draw, US data
LME Review: Aluminum ends higher on stock draw, US data
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NSTL
Aluminum at the London Metal Exchange ended the late kerb higher, buoyed by a 1,275-ton stock draw and bullish consumer confidence data from the U.S. The release of the LME inventory levels triggered trade buying of aluminum in the pre-market, which in turn helped bolster the upward momentum initiated by the funds in early trade. Resistance at 1,401 dollars a metric ton was tested for the third consecutive day, and eventually a fresh four-week high at 1,403 dollars/ton was posted, but steady forward selling pared the gains by the afternoon session.The release of the University of Michigan's full-month report on consumer sentiment also helped bolster the mood in the market and prevented further falls. Their report was said to show its index for May rising to 96.9, from the 96.0 reading in its preliminary report at mid-month, according to people in the market who have seen the report.
NSTL
