Aluminium prices slipped about $20 compared with Wednesday’s opening level, to $2,215 per tonne, basis three months, and were trading in a range of just $17 during the morning.
“I think everyone’s looking to the debt swap. Every time I look at the news, it seems to be going terribly,” a category I trader told Metal Bulletin.
The trend of headline trading is likely to continue, he added, as non-farm payroll data is expected from the US in the coming days.
“The non-farm data might be quite interesting – we’ll see whether we still have employment picking...