The light metal’s three-month price is back up above the $2,300 per tonne mark to start the week, up 2% from Friday’s closing drop to $2,285 per tonne.
“There’s a continuation of same themes today across base metals. A lot of people are looking at the LME stock report. There’s a modest increase in stocks for aluminium, which is presumably Rusal metal being warranted,” Robin Bhar, head of metals research at Société Générale, told Metal Bulletin.
The metal’s stock activity recorded a fresh delivery of 15,100 tonnes today, with 10,775 delivered into Vlissingen. The Dutch LME-listed warehouse received a large delivery of 68,000 tonnes on Thursday April 12.
Some 13,825 tonnes...