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Aluminum Extends Decline, Lumber Prices at Record High

May 11, 2018 at 19:48 by Vladimir Vyun

Aluminum prices fell today despite the shrinking stockpiles at the London Metal Exchange. The metal was still above the levels it had been trading before US sanctions against the major producer Rusal. Contract for delivery of aluminum in three months shed 1% of its value to $2,312 per metric ton as of 2:17 GMT on LME today following the 1.3% at the previous trading session.

Meanwhile, futures for lumber jumped more than 1% today. Prices jumped more than 30% this year after the United States imposed duties on imports of the commodity from Canada. That resulted in tighter supply and surging costs for house construction. Contract for delivery of lumber in July jumped as much as 1.69% to $602.70 per 1000 board feet as of 19:40 GMT on CME today.

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