Aluminium closed at its highest in six weeks on the London Metal Exchange on Friday November 1 while copper also continued its recovery.
The three-month aluminium closed at $1,786 per tonne this afternoon after peaking earlier at $1,790 per tonne. More than 18,000 lots changed hands by the close, the highest one-total since July. Still, market participants must factor in costlier financing conditions - the benchmark cash/three-month spread swung to a backwardation of $4.75 per...