Aluminum Scrap Markets
August 19, 2024
LME aluminum rises, with focus on Fed Chair’s speech
Written by Guillaume Osouf
On Tuesday morning, the LME 3-month price was up again and was last seen trading at $2,473/metric ton (mt). The move has been mostly driven by a softer US dollar.
This week most of the focus will be on the Jackson Hole speech on Friday where Federal Reserve Chairman Jerome Powell is expected to set the tone for a September interest rate cut. The minutes of the last July FOMC meeting are also due this Wednesday.
