Due to an increase in export orders and production, Chinese manufacturing data was boosted to hit a 2-year high in October, leading some short covering, as well as stimulating a hike in base metals’ prices.
Among them, LME aluminum rose by nearly 1.8% last Friday (November 1st), which performed the best compared to other base metals.
According to statistics, the US’ non-farm payrolls in October totaled 128,000, which was better than the market forecast at 75,000, showing a stronger job market in the US, which also supported metal trends.
LME aluminum rises by nearly 1.8% on Nov 1
5 Nov 2019 10:53 reported by Joy Liu
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