LIVE FUTURES REPORT 10/01: Stock volatility fails to bolster LME Al; tin leads gains in low-vol trade

The three-month aluminium price on the London Metal Exchange was little moved during morning trading on Friday January 10 and consolidated around $1,800 per tonne despite a fresh cancelation of some 17,650 tonnes.

Aluminium’s outright price on the LME was recently at $1,803.50 per tonne this morning, unchanged from its closing price on Thursday, while volumes traded in the metal were thin at less than 2,000 lots exchanged as of 9:30am London time. Despite reaching a six-month high of $1,832 per tonne on Monday, the light metal’s LME price has stagnated throughout the week and even dipped below its nearby support level. This comes despite Thursday’s sizable fresh cancelation of just under 120,000 tonnes, the bulk of which came from LME-registered warehouses in Asia. Some 15,350 tonnes were...


Hassan Butt

January 10, 2020

10:42 GMT