LIVE FUTURES REPORT 26/04: LME base metals prices mostly in consolidation; aluminium climbs 1.3%

Base metal prices on the London Metal Exchange steadied at the close of trading on Thursday April 26, while aluminium climbed 1.3% during the afternoon.

“Afternoon news that Oleg Deripaska has no plans to restructure Rusal, sent aluminium prices quickly higher, through $2,300-2,315.20 per tonne area, adding to underlying market volatility and tightening of the spreads,” Liz Grant, senior account executive at Sucden Financial, said.

The light metal spent most of the morning around the $2,200 per tonne mark, before prices further strengthened due to this latest sanction-related support factor.

“Market volatility can be uncertain and cause panic but it also creates opportunities. Should the violent moves resurface, producers should look to hedge into rallies and...

Published

Hassan Butt

April 26, 2018

18:09 GMT

London