Prices of Aluminium seen trading at $1787, rise by 0.87
After prices of aluminium falling over 5+% in May, it witnessed a slight positive change towards 15th May, 2014. Since Friday last, prices of aluminium are seen trading at $1787, a rise by 0.87% from the last week’s close while the highest for the week was $1810.
It was anticipated that prices would rebound. Aluminium premiums over the cash were maintained at USD290/MT. However, there was a decline seen in the global inventory at LME to 5264450 tons from 5303475 tons, fell by 0.75%. Besides, economic numbers that were released from the various countries were found to be mixed in performance and the USD index was trading higher by 0.10% might have supported aluminium to go higher.