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Monthly Aluminum MMI® Holds Steady at 89, Prices Still Low: Don’t Go Long

by Raul de Frutos on May 8, 2014

Style:    Category: Metal Prices, MetalMiner IndX, Non-ferrous Metals, Premium

Three-month aluminum closed the month of April at $1,812 per ton on the LME. Aluminum surged in the month of April, but we see that as a normal fluctuation within an overall downtrend. This week, prices fell again below $1,800/t. Aluminum remains in a falling market and nothing indicates that aluminum is turning up. In this article, MetalMiner’s lead forecasting analyst Raul de Frutos throws down on what buyers should do when the trend is actually changing, while stressing that listening to unfounded opinions could get you into trouble. With aluminum prices remaining low and the MW premium high, we will also keep an eye on the new CME aluminum futures contract. Aluminum buyers might want to be aware of future developments and consider using these contracts as hedging instruments. FREE Download: The Monthly MMI® Report – covering the Aluminum market.

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