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Tag: Aluminum Tips

Aluminum Set for Record Run of Monthly Gains as Supplies Shrink

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Gsr-54-AluminiumAluminum rose in London, heading for the longest-ever run of monthly advances amid shrinking supplies. Copper and tin gained.

Inventories of aluminum tracked by the London Metal Exchange are at a two-year low. The metal for immediate delivery settled yesterday at a $3.25-a-metric-ton premium to the contract for delivery in three months, the first backwardation since December 2012 and a sign of limited supplies. The fee to borrow the lightweight metal for one day jumped to $10 a ton yesterday, the highest since December 2012.

Aluminum Prices To Remain Around Present Level, LME Stocks Seen Falling

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Gsr-057-AluminiumThe LME spot aluminium price is expected to remain around current levels in second halfof 2014 and there is a possible potential upside for physical premiums, according toglobal mining major RUSAL. The positive dynamics in the aluminium sector is supported bythe mounting ex-China deficit, solid demand fundamentals driven by the ongoing shift fromsteel to aluminium in the automotive sector and a lack of new primary aluminium projectsputting pressure on the supply side of the equation, according to the company. RUSAL alsoexpects the LME inventories to drop further on physical market tightness. The LME aluminumprices are hovering around $2080 per tonne right now- their highest mark since February2013. Prices are up nearly 11% on a year –on-year basis.

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