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Aluminium may face downside pressure as banks liquidate financing deals

Posted on 21 October 2011

Aluminium prices face a dampening prospect as the global economic slowdown could force banks to liquidate their metal holdings in a bid to fund other purposes.
Bank financing deals are believed to have tied up 70% of more than 4.5 million tonnes of aluminium held at LME approved warehouses. In a bank financing deal, banks buy aluminium, sells it forward and stores it in a warehouse for long periods……………………………………….Full Article: Source


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