LIVE FUTURES REPORT 14/03: LME base metals down on weak Chinese data; Al achieves slight uptick

Base metals traded on the London Metal Exchange were almost universally trading down during the morning session on Thursday March 14 due to continually weakening data from China.

“We have Chinese industrial production slowing down and Chinese car sales for February down 14% [while] Chinese consumer buying has pretty much dried up,” Malcolm Freeman of Kingdom Futures said. Only the three-month LME aluminium price achieved a marginal $1.50-per-tonne uptick to trade at $1906.50 per tonne, seemingly buoyed by continuing inventory drawdown from LME warehouses. 9,350 tonnes of aluminium moved out of warehouses as of 9am on March 14, leaving global stocks at 1,189,025 tonnes. The LME aluminium three-month price closed trade up $28 at $1,905 per tonne on March...

Published

Amy Hinton

March 14, 2019

10:50 GMT

London