LME 3-Months prices rallied strongly in September from 2,070 dollars/tonne at the start of the month to over 2,370 dollars/tonne by early October including a sharp rise of 100 dollars/tonne over a 4 day period from September 20th -24th. This was a stunning rise in aluminium prices with the cash to 3 months contango also recovering to a healthy level of over 30 dollars/tonne compared to the backwardation squeeze witnessed in the previous month. The weakness in the US dollar was the major contributor to the rise in prices as the expectation of further quantitative easing by the US Federal Reserve weighed on the greenback.
展开▼
