Cross-currents creating opportunities for all

摘要

In line with recent trends, sentiment in aluminium continues to weaken, ashighlighted by the price drop to a fresh low at $1,460/tonne on Wednesday. That said,while the futures markets is weak, there was pick-up in interest in the physical marketlast week as the passing of the October date tightness revived interest in financingdeals. There was also some pick-up in consumer interest for physical metal, promptedby the fresh lows in LME prices and on the belief that planned cutbacks (and thelikelihood of more to come), will tighten up supply next year. The low benchmark priceis also tightening the secondary market, as suppliers do not want to let go of materialat these low prices. This has lifted demand for physical primary metal to fill the gap.Although there has been some price-related pick-up in interest, actual demandremains subdued, albeit positive, in line with the economic climate.