Osaka Mercantile Exchange Aluminium Weekly

OME aluminium futures went sharply higher boosted by the yen's weakness and firmer tone in overseas markets. Distant month : opening 171.5 yen, a high 176.0 yen (Jun. 25), a low 171.5 yen (Jun. 21), closing 175.3 yen. The dollar surged to the 122 yen level due to the intervention in the European currency markets by the Bank of Japan at the beginning of the week. LME three-month aluminium advanced following the firmer tone in the copper market: the price rebounded to the $1,360 level for the first time in one month and advanced further to $1,388. A major car manufacturer in U.S. announced that the aluminium demand in the automobile industry would increase in the long-term. With these factors, OME aluminium futures leapt on active buying by bulls. This week's total volume of trading was 109,092 lots.