LIVE FUTURES REPORT 10/01: LME base metals consolidate higher on low turnover; Al stays above $1,800

Base metals prices on the London Metal Exchange consolidated higher at the close of trading on Friday January 10, edging slightly upward on moderately low turnover, while volatility in the aluminium complex saw strong stock moves make little change to its outright price.

Aluminium’s underlying price settled at $1,806 per tonne in the afternoon, a climb of just 0.1% over the day, while the total volume traded was low at just over 10,000 lots exchanged by the close, the lowest daily amount since December 24.
The light metal’s stock flows have been the most volatile across the base-metals complex over the week, with more than 130,000 tonnes canceled out of LME-registered warehouses, mostly in Asia.

As a result, the LME’s latest warehouse queue report showed increased waiting times for the...


Hassan Butt

January 10, 2020

18:35 GMT