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Amman, July 2 (Petra) — Aluminum prices extended their decline on
Thursday to hit their lowest level in more than four months, weighed
down by fading investor risk appetite and signs of a
faster-than-expected recovery in supplies following the end of the
war between the United States and Iran.
Benchmark three-month aluminum on the London Metal Exchange (LME)
fell 0.8% to $3,053 per metric ton, marking its fourth consecutive
session of losses. Prices had earlier touched $3,040 per ton, the
lowest level since Feb. 19.
LME aluminum has shed approximately 20% of its value over the past
month as the United States and Iran moved toward ending the conflict.
Similarly, the most-traded aluminum contract on the Shanghai Futures
Exchange dropped 0.4% to 22,400 yuan per ton.
//Petra// AF
