Author：Site  Source：Original Site  Click to rate：1307  Post time：2013-12-19

Summary:LME aluminum opened at USD 1,799/mt on Wednesday before creeping higher to USD 1,809/mt, driven by inspiring US housing data.

SHANGHAI, Dec. 19 (SMM) – LME aluminum opened at USD 1,799/mt on Wednesday before creeping higher to USD 1,809/mt, driven by inspiring US housing data.  US housing starts surged to a seasonally adjusted annual rate of 1.09 million units in November, their highest level in nearly six years. However, the light metal gave back some of its earlier gains in late trading hours on worries over QE3 tapering. LME aluminum finished up USD 10.5/mt or 0.58% at USD 1,808.5/mt. Trading volumes were off 1,383 lots to 8,617 lots, while positions tumbled 30,636 lots to 7,319,151 lots.

SHFE 1403 aluminum contract is expected to open at RMB 14,000/mt and fluctuate between RMB 13,990-14,030/mt on Thursday. In China’s spot markets, premiums of RMB 0-40/mt are expected over SHFE 1401 aluminum contracts.

from metal.com