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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (203)	6/12/2001 3:48:33 AM
From: craig crawford	Read Replies (1) \| Respond to of 1643

DJ LME Metals In Asia Mostly Steady; Rise In Aluminum Stk SINGAPORE (Dow Jones)--London Metal Exchange base metals futures were mostly steady in Asia Tuesday with little activity as Japan's weak economic data and a sudden aluminum stock build curbed buying interest, traders said. Aluminum stocks in LME-registered warehouses worldwide as of Friday were reported Monday as having risen to 605,325 metric tons, up 8,300 tons from Thursday. Such a sharp rise took the market by surprise, as production cutbacks in North and South America have intensified. "It means demand is very weak, and the market must have factored in the cutbacks," a trader in Tokyo said. A trader in Sydney noted that the market is quiet, with no inquiries from either Japanese or Chinese participants, who are usually active in during Asian hours. A stronger dollar against the Japanese yen also discouraged Japanese participants from buying, the Sydney-based trader said. Monday, Japan issued its January-March gross domestic product figures that showed an on-quarter decline of 0.2%, below market expectations of a 0.2% growth. The news caused the yen to weaken against the dollar, and hurt investors' sentiment, traders said.