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