LIVE FUTURES REPORT 14/11: LME aluminium price narrows while spreads flip to contago; zinc slips below $2,400

The three-month aluminium price on the London Metal Exchange was lower at the close of trading on Thursday November 14, closing at its lowest level since late-October, while zinc’s outright price similarly fell to its lowest level in just over a month.

Aluminium’s outright price on the LME closed at $1,742 per tonne on Thursday afternoon, its lowest closing price since October 28, although turnover was moderately high at 13,433 lots exchanged by the close. A fresh inflow of just over 78,000 tonnes of aluminium was delivered mostly into LME-registered warehouses in Johor and Singapore. This put pressure on holders of material to offload it against the metal’s favorable forward spreads, prompting the downward move in prices. The light metal’s on-warrant stock count was now...


Hassan Butt

November 14, 2019

18:27 GMT