Aluminium
Three-month prices slumped by 9% from a high of USD 3,250/tonne (t) in early March to a low of USD 2,808/t in the second half of March. The market was hit by a triple whammy of bearish news. First, there was a general selloff in the industrial metals, as recession fears gripped the market following the collapse of US investment bank Bear Sterns. Second, there was a big jump in LME stocks. Aluminium inventories rose from 947 thousand tonnes (kt) at the end of February to 1.02 million tonnes (mt) in mid-March - representing a high 9.8 days of global [...]
Entries Tagged as 'Base metals'
Base Metals
March 27th, 2008 · No Comments
Tags: Base metals
