The largest single-day meltdown in aluminum in five years has already caught the turmoil in the spot market, with premiums remaining at new highs in 60 months.
Immediately after Standard & Poor's downgraded Greece and Portugal’s debt, aluminum prices closed at 2,143 US dollars per tonne on the London Metal Exchange on Wednesday, which was 6.4% lower than the day before, exceeding the recent high of US$2,500/ton. %.
The price has reached a low point of eight weeks and has been worried that the rising prices of customers are back and buy in large quantities. Traders told the US Metal Market Reporter. A domestic trader said: "Actually, we are very busy. Many people are locked in business."
Immediately after Standard & Poor's downgraded Greece and Portugal’s debt, aluminum prices closed at 2,143 US dollars per tonne on the London Metal Exchange on Wednesday, which was 6.4% lower than the day before, exceeding the recent high of US$2,500/ton. %.
The price has reached a low point of eight weeks and has been worried that the rising prices of customers are back and buy in large quantities. Traders told the US Metal Market Reporter. A domestic trader said: "Actually, we are very busy. Many people are locked in business."
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