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In February, the prices of six kinds of non-ferrous metals in the international market rose generally. Although the increase was not very large, due to the recent continuous rise, copper, aluminum, etc. have reached higher prices in the past decade or so. At the end of February, the stocks of aluminum, tin and nickel in the London Metal Exchange saw a significant decline. Copper: The London Metal Exchange (LME) copper spot price averaged 3,247 U.S. dollars per month in February, up 2.35% from January and 18% from the same period of last year. Since last June, copper prices in the international market have risen for nine consecutive months. At the end of February, the London Metal Exchange stocks were 52,550 tons, an increase of 15.1% from the beginning of the month. On February 22, the closing price of the three-month copper futures of the London Metal Exchange (LME) reached 3,242 US dollars per ton, close to the historical high of 3,280 US dollars per ton created in 1989; the recent contract closing price of the New York exchange copper reached per ton. 3307.5 US dollars is higher in 15 years. The strong demand and continued depreciation of the US dollar are the main reasons for the continuous rise in international copper prices. According to forecasts, the global copper supply gap in the first quarter of 2005 was approximately 68,000 tons. The demand for pure copper will increase by 3.4% in 2005, and it will increase by 4.1% in 2006. China is the main source of copper demand. Aluminum: LME aluminum spot prices averaged $1,882 per ton, up 2.2% from January and up 12% year-on-year. At the end of February, LME aluminum stocks were 479,750 tons, a decrease of 27.6% from the beginning of the month. On February 22, the three-month aluminum futures closing price on the London Metal Exchange reached 1969 US dollars per ton, which is the higher price in the past decade. In 2004, the world's demand for aluminum production was growing at a rate of 9.6%. In 2005, demand growth will slow to 4%. ALcan, the world’s second largest primary aluminum producer, predicts that the world’s aluminum shortage in 2005 will be 200,000 tons, which is about 30% lower than the 2004 shortage (685,000 tons). Alumina: Prices continue to rise. At present, China's CIF alumina is priced at about 450 US dollars per ton, which exceeds the price of 430-435 US dollars per ton in late January, and is more than 3 times higher than the price of about 160 US dollars per ton in 2002. The reasons for the rise in alumina are mainly the shortage of global supply, rising freight rates, and strong demand, especially from China. In 2005, China’s alumina imports are expected to increase from just over 6 million tons in 2004 to 7.5 million tons, which makes the alumina market still face the same supply shortage as last year. Lead: LME lead spot price was US$973 per ton, up 1.51% from January. In February, lead stocks continued to decline significantly. At the end of February, the London Metal Exchange stocks stood at 33,625 tons, a decrease of 5.8% from the beginning of the month. Zinc: The spot price of LME zinc was 1,323 US dollars per ton, which was 6.2% higher than that in January and 22% higher than the same period of last year. At the end of February, the London Metal Exchange's inventory was 601,600 tons, a decrease of 2.5% from the beginning of the month. On February 17, zinc prices reached a higher price level since 7 years. Some analysts believe that due to the increase in industrial production in China and the increase in demand for zinc, the increase in zinc production is insufficient to meet demand. Tin: The January spot price of the London Metal Exchange (LME) was $8,106 per ton, up 5.2% from last December and up 21.8% year-on-year. At the end of February, the London Metal Exchange stocks stood at 3,155 tons, which was 45% lower than the beginning of the month. Nickel: LME nickel spot price averaged $15,415.60 per ton, up 5.7% from the previous quarter and 2.1 percentage points higher than the same period of last year. At the end of February, the inventory of the London Metal Exchange was 9,924 tons, a 41.7% decrease from the beginning of the month.