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LME aluminum falls as stocks surge
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London Metal Exchange base metals prices decreased last week, except for lead.
The stocks of aluminum on the LME increased to some 1.12 million tons due to the weak demand from US automobile industry. The stock level is the highest level since May, 2004. Therefore, the three month price of aluminum decreased significantly by 8 percent to US$3,033/ton last week.
The three month price of lead remained stable at US$23,425/ton last week. The three month price of nickel reduced to US$20,400/ton. Due to the weak demand in China, the three month price of copper dropped by 2.3 percent to US$8,085/ton.
News Date
7/22/2008 8:55:30 AM
reported by
Claude Tseng
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