Aluminium, Copper Prices Weaken

Technical analysts thought the modest rally indicated that the market had touched the bottom of its recent downtrend, which had wiped $170 off the three months price in less than a month.

Chart analyst William Adams of broker Rudolf Wolff noted that technical indicators had turned up and the market was oversold. In New York, meanwhile, the justification for aluminium's price slide was questioned by aluminium industry analyst Stewart Spector.