Aluminum Price Likely to Post Slow Growth: LG Futures

摘要

Aluminum price is foreseen to take a slow upward trend again, getting out of the present weak tone. Song Won-duck, a team head of LG Futures forecasted in a recent seminar held May 13 to seek a way to strengthen the competitiveness of domestic aluminum industry that overall price trend of nonferrous metal on the LME would maintain a gradual upward trend after getting through downward price correction in May and June, explaining his outlook for the future aluminum price trend. According to Song, the international market price for aluminum showed a relatively slow rise at the end of last year amid a fast surge in overall prices for nonferrous metals due to relatively sufficient inventory at the LME. Such an inventory trend was analyzed to have worked as a factor not only to exert an influence on a simple demand and supply condition of the related market, but also to set limits on new investments by speculators in the market.