The LME primary aluminium price struggled to close above $2,150 last week as any rally petered out quickly. There are two primary reasons for this lacklustre price activity. First, oil prices have been stuck below $80/bbl for some time now and this is dragging down all the commodities except precious metals. Second, markets are still jittery about the Eurozone’s economic fundamentals despite the $1 trillion rescue package.
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