Aluminum Stockpiles Continue To Remain At Higher Levels

Published 01/16/2014, 05:26 AM
Aluminum
Aluminum was up by 1.3% at the LME platform recovering smartly from its intra-day low along with the other metals to close at $1784/MT mark.

Even though the aluminum inventories declined marginally by 7800 MT in the yesterday's trading session, aluminum stockpiles continue to remain at higher levels.

For the day, we have a ranged outlook on aluminum as on one side the commodity might get positive cues from the increase in premiums which increased from 14 cents per pound to 17.5 cents per pound. However as said above, the metal is likely to get negative pressure from the higher inventories which remains stubbornly high at 54, 53,525 MT.

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