Aluminium.........
LME Aluminium has made some smart moves today and was up by 1 percent after the opening of European markets. The LME three month Aluminium prices were trading at $ 1863 per tonne, up from $ 1845 per tonne. On MCX, Aluminium was trading at Rs 101.85 per kg, up 0.4 percent.
Yesterday, International Aluminium Institute (IAI) said that the total world Aluminium production declined by 111000 tonnes in April to 3.745 million tonnes. The total world production in March was at 3.856 million tonnes. When compared to last year the production was up by 168000 tonnes to 3.577 million tonnes from April 2012.
LME inventories have increased by 0.29 percent so far this year and are at all time highs dragging Aluminium from every high though inventories declined by 5475 tonnes today to 5225650 tonnes.
Source by Commodity Insights
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