LME Aluminium Price Keeps Increasing

Aluminium price increased by US$ 79 to the year-high of US$ 2,698 per tonne at settlement of London Metal Exchange on Wednesday from previous day, when the price reached US$ 2,600 for the first time since January 1989. The futures price increased to US$ 2,720. The market keeps increasing after Easter holiday. Japanese aluminium manufacturer source said aluminium is purchased due to the relative low level price than copper and zinc. The offshore market cold increase when LME inventory decreases.LME aluminium futures market closed last week session keeping US$ 2,600 per tonne. The market gained another high supported by additional funds purchase after the holiday. The price increased to US$ 2,772 on Tuesday temporally. Japanese interests have mixed view on the market. Some expect another high while others anticipate the price could decrease after a week long holiday in early May due to the supply balance.