LME OFFICIALS: Aluminium price volatile on warehousing uncertainty

Aluminium prices were volatile during the official session of Friday April 11 on the London Metal Exchange as uncertainty remains over the future of the bourse's warehousing policy.

Three-month aluminium settled at $1,872/73 per tonne on Friday, compared with $1,882/82.5 on Thursday.
"It has been incredibly volatile. Forwards were bidding in the morning, then it collapsed into the afternoon, then we had a rally again," a category I trader told Metal Bulletin.
"There's been a lot of forward selling in the market and then some CTA buying. Threes to December moved more in an afternoon than it has in about three weeks," he added.

Confusion remains in the market over the direction the LME will take with its warehousing policy...


Claire Hack

April 11, 2014

14:12 GMT