LME 3-Months aluminium prices have remained supported in the last month, rising from $2,374/tonne at the beginning of October, to $2,452/tenne in early-November, after having hit a six- month high of $2,469/tonne a few days previously. This was due mainly to US dollar weakness, with the greenback remaining under pressure owing to concerns over the pace of the US economic recovery. Moreover, the Federal Reserve elected to embark on a further round of quantitative easing, earmarking an additional $600bn to purchase longer-term treasury securities. This move weakened the US dollar further, thus providing LME aluminium prices with further upward momentum. However, the US currency's weakness also supported other base metals, with copper, lead and zinc all rising more strongly than aluminium.
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