We at investorAi have posted several articles where the AI model (Aeryn) has been reading the news and making predictions on the global economy based on the oil price, metal prices, consumer debt, and so on.
Aluminum, along with other industrial metals, is facing a decline as the recent (post-COVID) surge in prices collided with what appears to be waning buying interest in China (the world's largest consumer of these commodities).
Earlier in March, the LMEX Metals Index, tracking the six primary base metals, reached an eight-month peak. Copper notably surpassed $9,000 per ton for the first time in nearly a year, driven by investor focus on supply risks and optimism surrounding global manufacturing prospects.
However, Chinese consumption failed to meet expectations, as the typical spring uptick in activity failed to materialize entirely. Recent price hikes dissuaded buyers, leading to widening spot aluminum discounts and cargo dumping, as highlighted by Jinrui ...
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