Do More With Reuters
Partner Services

UPDATE 5-Aluminium stalls, but looks set for new high

Wed Jun 25, 2008 9:35pm IST
 
Email | Print | | Single Page
[-] Text [+]

* Market awaits U.S. rate decision

* Aluminium eyes record highs

* Rising energy costs boost aluminium's fundamentals

(Updates prices, refreshes comment)

By Pratima Desai

LONDON, June 25 (Reuters) - Aluminium prices look set for record highs on the back of strong fundamentals, analysts said on Wednesday, as other industrial metals held steady ahead of a decision on interest rates by the U.S. Federal reserve.

Aluminium MAL3 for three-months delivery on the London Metal Exchange ended the day at $3,058 a tonne, knocked slightly by rising inventories, compared with $3,105 a tonne at the close on Tuesday.

The metal used widely in power, packaging and transport, touched $3,169 on Monday, the highest level since the middle of March and only about $150 below the all-time high of $3,310 a tonne hit in May 2006.  Continued...

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

Hugh Hefner
PLAYBOY SALE
An icon bows to changing times

With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech.  Full Article 

A man walks past a bronze statue of a bull outside the Bombay Stock Exchange (BSE) building in Mumbai in this March 25, 2008 file photo. REUTERS/Punit Paranjpe/Files
Bubble trouble?

With India's benchmark stock index, the BSE Sensex, at around 17,000 points, are the Indian equity markets looking at a possible bubble?  Commentary 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SPECIAL REPORT

Himangshu Watts
India's food dilemma

Indian farms are failing to attract capital or talent, either from rich landlords or the students who graduate from agricultural universities.  Full Article | Related Story 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article