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LME Aluminium spot prices may touch $2,050/t in H2 2013

Posted on 25 March 2013

London Metal Exchange (LME) Aluminium spot prices would go higher in the second half of 2013, averaging $2,050/t versus $1,925/t in the first half, according to a market analysis by London based Barclays. For short term, it could trigger some short covering in the metal, particularly if macro sentiments improve in line with developments in Europe.
Barclays has already expected the approaching maturity of the backwardation pockets in the LME curve to drive such activity, given the uncertainties regarding the underlying dynamics; hence, given some incremental tightening in fundamental expectations, the near-term risks of short covering are certainly escalating………………………………………..Full Article: Source


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