Aluminum Corp. of China , the nation’s leading producer of the metal, declared a price recovery for the lightweight metal will lag behind other base metals because of high inventories. For full story, click here
Aluminum prices declined to $1,285 (U.S.) a tonne as inventories hit a record high. For more information, click here
The price of aluminum has slumped some 50 percent since peaking at $3,380 per tonne last July as the global economic downturn has hit demand for the metal. To kick off 2009, the aluminum market received some positive news as the metal climbed to a three-week high in Shanghai trading.
Shanghai aluminium rose by 1.8 per cent to 10,585 yuan after it too slid by its 4 per cent maximum in the previous session. For full story, click here
LME aluminium rose $15 to $1,485 while Shanghai aluminium rose by 1.8 per cent to 10,585 yuan. For full story, click here
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