Archive for December 4th, 2009
Forecast for Decline of Global Aluminum Supplies in 2010
The global aluminum surplus will be cut by 54 percent in 2010 compared to this year as demand increase in China, the greatest buyer in the world, with economical recover. Chinese demand also increase with help of government’s economic measures. World demand for the metal will climb 7.6 percent to 37.6 million metric tons in the next year.
Chinese aluminum production will rise 16 percent to 15.5 million tons in 2010 as smelters encouraged restarting their work by increasing metal prices. Despite this analysts don’t expect any significant export from China next year. Global supply will rise 3.5 percent to 38.8 million tons in 2010.
Analysts predict that delivery for aluminum in three months will reach $1,900 per metric ton on the London Metal Exchange in January to March. The metal traded $2,127 per ton as of 17:50 in Tokyo.
Commodity Prices — December 4th 2009
Latest commodity prices (ICE, NYMEX, CME) as of 16:29 GMT:
Oil (Brent) — $78.53
Gold — $1,171.05
Silver — $18.46
Palladium — $375.00
Platinum — $1,477.24
Copper — $7,086.00
Aluminum — $2,145.00
Nickel — $16,180.00
Zinc — $2,377.00
Cocoa — $3,375.00
Sugar — $22.53
Corn — $377.25
Soybean — $40.09
