03.11.2008, 15:50 3099

Prices in world market of aluminium continue to decrease

Prices in the world market of aluminium continued to decrease. The average price of this metal at the London Metal Exchange, LME decreased at the last tenders.

Almaty. November 3. Kazakhstan Today - Prices in the world market of aluminium continued to decrease. The average price of this metal at the London Metal Exchange, LME decreased at the last tenders.

According to RBC daily, now the price and the situation in the market are similar to the situation of the end of 1993 - the beginnings of 1994. Manufacturers of aluminium in Australia, the USA, Norway, the EU countries and Russia agreed to reduce their capacities by 10 % and by the end of 1994 world price for aluminium increased.

The analysts of British GFMS Metals consider that reduction of demand for aluminium in the market can positively affect its price. According to the recent review of Goldman Sachs, to balance the market of aluminium production of aluminium should be reduced as the stocks of metal at the London stock exchange from the beginning of the year have trebled.

The broker company MF Global in its last review Metals Report has lowered level of price resistance on aluminium for the last month from $2400 up to $2250 for a ton and the level of price support - from $2230 up to $1925 for a ton.

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