LME prices remain stuck in range-trading mode, the flow of funds could start to change with new quarter
March 29, 2019
LME 3M aluminum prices closed the session up 0.5% or $9.50 per mton at $1,912.50 per mton. Prices increased to an intraday high of $1,925 per mton, supported by progress in US-China trade negotiations and new four-month highs in WTI oil prices. However, gains were capped late in the session by end-of- quarter profit taking and downward pressure from a strong US dollar. In monthly terms, LME 3M prices were again without a change, closing practically at the same level as in January and February (although prices remain up 3.7% since December). For now, LME aluminum prices remain in range-trading mode, between $1,850 and $1,930 per mton.
More details in full report.