| Aluminium prices surged 4 per cent last week, with the spot price on the London Metal Exchange (LME) closing on a stronger note at $1,562 per tonne on Friday. This is just above an important resistance at $1,560. The metal is up about 10 per cent from its low of $1,423 made in November 2015. Between May and November 2015, aluminium spot prices had plummeted over 27 per cent from a high of $1,959.
Prices of most metals have been strengthening in the global markets due to the recent weakness in the US dollar. Dollar weakness usually boosts metal demand as it makes it cheaper for consuming countries to import. Aluminium had fallen through last year, due to China adding to the supply glut at a time when the global economy was struggling to grow...............................................Full Article: Source
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