LIVE FUTURES REPORT 03/08: Positive US manufacturing data boosts LME base metals; aluminium up 2%

Three-month base metals price on the London Metal Exchange were higher at the close of trading on Monday August 3, with positive manufacturing data prompting an afternoon surge in buying.

Aluminium led the charge in a 2% rise at the 5pm close, against standout turnover. Aluminium’s outright price closed at $1,752 per tonne on Monday afternoon, its highest closing price since February 13, while turnover was at its highest since March 23 at more than 22,000 lots exchanged by the close. The light metal’s price has remained firmly above the $1,700-per-tonne support level since July 22, while a flurry of stock activity across LME-registered warehouses has led to broadly rangebound price activity over the past...


Hassan Butt

August 03, 2020

17:35 GMT