Latest Publication Abstract
Aluminum Price Outlook: (30-Nov-10)
As expected, aluminum prices entered into a short term correction/pause phase. After reaching $2,500 per mton (113.4 cent/lb) early in November (highest level since September ?08), prices fell 13% to a two-month intraday low of $2,184 per mton (99 cent/lb). The decline in prices was not particular of aluminum but was present in the entire commodity complex. In the case of aluminum, we estimate that 87% of the price decline experienced in November came from a stronger US dollar (a consequence mainly of the current Europe?s financial woes). Fund profit taking also pressured down prices (liquidation of long positions). The correction/pause phase is not over yet, but with prices at today?s levels, our models suggest we are in buying zone and that prices will hardly trade below the $2,250-$2,150 per mton range (102-97 cent/lb). We continue to expect...
from
http://www.harboraluminum.com/display_hanalysis_price.php
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