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MARKET TALK: LME Aluminum Flat In Asia; Spread Supports

Thursday, Jan 11, 2007
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LME 3-month aluminum unchanged on London PM kerb at $2,710/ton as physical buyers losing appetite to buy because of high price; metal likely quiet rest of Asia time, says trader at major Japan house. Notes backwardation on January-February spread supportive with potential to increase further on possible short squeeze; tips 3-month to rise toward $2,750-2,850 in London with support at $2,550.

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