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Aluminum: Price increases

29/09/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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At the end of this week, aluminum prices rose. Traders took positions before the end of the

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A After reaching its highest level of $2,328 on May 9, the benchmark aluminum on the London Metal Exchange (LME) was up 1.9% to $2,320.5 per metric ton at 10:12 GMT. Since the start of the quarter, it has increased by 8%. Dan Smith at Amalgamated Metal Trading said that “people take profits, people who are short buy back their positions. Some of these movements are short-term and are unlikely to continue until next week.”

According to one trader, after closing a long position, tin fell 4.0% to $24,305 after reaching $24,100, its lowest level since May 25, due to weak demand. For its part, LME copper increased by 1.0% to $8,298.5 per ton, nickel fell by 0.4% to $18,810, lead lost 0.6% to $2,182, and zinc increased 0.9% to $2,643

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