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Aluminum Could Slip Below $1,900/ton

Aluminum Could Slip Below $1,900/ton

Aluminum market sentiment remains downbeat with slowdown in Chinese imports and ongoing debt problems in Europe, says a Tokyo-based trader. “While in the long-term, (aluminum) prices could go up, but in the short-term, it could slip below $1,900/ton,” she says. Chinese metal demand continueto be an area of concern, while the demand in Japan is likely to remain subdued this quarter, she adds. Technical charts also indicate a bearish trend with prices likely to move toward $1,850/ton, Barclays says in a note. LME 3-month aluminum is at $1,908.75/ton, down $3.25 from its previous close.

By Dow Jones Newswires

For full article: http://www.metalprices.com/news/article/DN/20120710015498/dj–market-talk-aluminum-could-slip-below-1-900-ton-n-t–trader



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