Aluminum erased previous session losses...

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Aluminum erased previous session losses...

Post  RaahiShah on Fri Jul 20, 2012 3:21 pm

Aluminum erased previous session losses...
BASE METAL WRAP: Sentiment turned better as copper gained in global markets after US new-home construction rose at the fastest pace in almost four years and orders to withdraw the metal in Asia jumped, signaling improving demand. Copper and nickel prices firmed up by Rs 2 per kg in the local non-ferrous metals market today in line with a firming trend overseas amid increased demand.

Aluminum erased previous session losses and plunged by 1.2% at $1895 per tonne.The disappointment over Federal Reserve additional stimulus hopes conspired with the festering European debt crisis on German Chancellor Merkel's comments led the metal to slump down.
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