Aluminum at 13-Month High
London aluminum futures held near their strongest level in 13 months on Friday, propped up by firm demand and tighter supply in top market China, Reuters reported.
Copper edged lower, but was still heading for its first weekly gain in five after minutes of the US Federal Reserve’s July meeting, released this week, showed policymakers were in no rush to hike rates. Three-month aluminum on the London Metal Exchange was little changed at $1,684 a ton. The metal hit $1,709 on Thursday, its highest since July last year, and has risen nearly 2% for the week.
source: Financial Tribune
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