LME Aluminium gains marginally at $2,219

The 3 month LME aluminium forwards traded sideways for the day and prices end at $2,219 per tonnes, up by 0.41%.

LME warehouses reported to shed considerable 5975 tonnes from stocks of 4.551 million tonnes.

A report from Australian Bureau of Agriculture and Resource Economics (ABARE) suggests prices to show increase in 2010 as compared to 2009.

Stronger world economic activity in the short term is forecast to lead to an increase in aluminium consumption and, hence, prices.

Courtesy: Karvy Commtrade Ltd.