after prices of aluminium falling over 5 % in may, it witnessed a slight positive change towards 15th may, 2014. since friday last, prices of aluminium are seen trading at $1787, a rise by 0.87% from the last week’s close while the highest for the week was $1810.
it was anticipated that prices would rebound. aluminium premiums over the cash were maintained at usd290/mt. however, there was a decline seen in the global inventory at lme to 5264450 tons from 5303475 tons, fell by 0.75%. besides, economic numbers that were released from the various countries were found to be mixed in performance and the usd index was trading higher by 0.10% might have supported aluminium to go higher.
