Chinese New Year marks turning point for market sentiment

摘要

The declines in the LME 3-Months aluminium price have been mirrored across the base metals complex. Friday 15 February marked a peak for the aluminium price, this was the final day the Shanghai exchange was closed for the Chinese Lunar New Year holiday. After the exchange re-opened copper and aluminium on the LME fell a near identical 4.6% in the next five days from the previous Friday close, but while copper has only fallen 1% from these levels aluminium has fallen a further 5%.