Commodity News
HeadLine : London aluminium falls after Hydro restarts Brazil operations
Date : Dec 30 2019
London aluminium prices fell in early trade on Monday and were on course for their first daily drop in seven sessions after Norsk Hydro said it had resumed bauxite production in Brazil and was ramping up alumina output. Three-month aluminium on the London Metal Exchange fell 0.3% to $1,819 by 0137 GMT after closing up 0.6% on Friday. The most traded February aluminium contract on the Shanghai Futures Exchange rose 0.5% to 14,130 yuan ($2,019.90) a tonne as ShFE stocks continue to fall. Premiums for aluminium shipments to Japan for the first quarter of 2020 were set at $83 per tonne, down 14% from the previous quarter amid soft demand from electronics and auto companies.

Source: Reuters
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