LIVE FUTURES REPORT 06/04: LME ali makes late surge on US sanctions; other base metals consolidate

Aluminium prices on the London Metal Exchange had rallied by 2.2% at the close on Friday April 6 following the announcement that the United States has sanctioned and frozen Oleg Deripaska's assets subject to US jurisdiction,which includes Rusal.

The three-month aluminium price closed at $2,042 per tonne, its highest since before the Easter break.  “[Aluminium made] a late charge to $2,055 per tonne area following news of additional US Russia sanctions against Putin-supporting Oligarchs, targeting the energy and metals sector with Oleg Deripaska/Rusal included,” Sucden Financial said. Volumes also rocketed from 4,106 lots at midday to 15,751 lots by the close on Select. The metal has kept climbing since the 5pm Ring close, recently trading at $2,060.50 per tonne.  Across the complex, however, consolidation led the way,...

Published

Hassan Butt

April 06, 2018

17:50 GMT

London