Aluminum futures prices continue to soar on weak US dollar

Reportedly, the LME aluminum prices in three months delivery soared by USD 22 per tonne to USD 2,686 per tonne on June 7th 2011.

It’s analyzed that the weak US dollar supported the base metal prices to rise.

Meanwhile, the recent power limitation policy seems to have activated the aluminum prices. It’s known that the aluminum prices at Shanghai Futures Exchange broke CNY 17, 000 per tonne.

Also, the spot prices of A00 aluminum have increased to CNY 16,790 per tonne currently from CNY 16, 650 per tonne in the beginning of May.

Industry sources indicated that the electricity shortage in China may boost the aluminum prices to increase further in the near future.