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aluminium to $3000/ton?

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    0156 GMT [Dow Jones] Three-month aluminum prices could push higher towards $3,000 a metric ton on fresh buying interest before the end of Sept., according to aluminum research group Harbor. "An official new wave up toward $3,000/ton could start before Sept. ends," it says, despite speculation over possible primary metal restarts at North American smelters. The house notes recent reports that Alcoa Inc. (AA) is considering restarting its Tennessee smelter, which was idled in 2009 due to economic conditions. Despite the expectation of rising North American output, aluminum is a buy at current levels, the house says; the light metal's three-month contract is at $2,535/ton on the London Metal Exchange, down $1 from its previous settlement. Aluminum settled down $16 Wednesday on fund selling that overrode the softer USD. ([email protected])
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