LIVE FUTURES REPORT 08/03: LME ali price holds steady with 232 announcement due; other base metals still under pressure

Aluminium’s three-month price recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States’ expected tariff announcement.

President Donald Trump is expected to announce the official Section 232 import tariffs after 8pm London time, which held the aluminium three-month price steady throughout the day. It closed $8 higher at $2,106 per tonne. Tin was the only other base metals to close the day in positive territory. The metal was trading back above $21,500 per tonne and stocks remained at record low levels of just 1,555 tonnes. LME stocks are also tightly held - one entity holds 90-100% of warrant positions. The majority of the complex was under pressure from a...


Alice Mason

March 08, 2018

17:28 GMT