Copper at month low

London
Copper hit a one-month low on Wednesday as the dollar resumed its rally after a brief pause earlier in the session, while aluminium was at its weakest in a year on rising supplies.
Aluminium is in oversupply with a huge stock overhang, and output has continued to rise this year, with the latest industry figures showing daily average production rising to 68,500 tons in April.
Norwegian producer Norsk Hydro said it would increase aluminium output by 35,000 tons per year.
“Although LME stocks are falling there’s (still) a lot of aluminium around and (then) we see large increases in production. Aluminium needs a deficit to erode overhead stocks,” Fastmarkets head of research William Adams said.
London Metal Exchange aluminium hit its lowest since March last year at $1,731 a ton, and traded down 0.7 percent in official midday rings at $1,739 a ton.