Base metals on the London Metal Exchange were split at the close of trading on Wednesday May 2, with aluminium and nickel prices climbing more than 2%.
Aluminium's three-month price made the largest gains over the afternoon, reaching a high of $2,330 per tonne and closing 2.6% higher. Despite continued volatility, the price has held above $2,200 per tonne.News today of the United States' extension of the deadline for investors to divest holdings in Rusal and EN+ has added to the saga of sanction-related factors contributing to the metal's price shifts.Cancellations are equally driving aluminium prices upwards, with more than 50,000 tonnes of fresh cancellations taking place across Asia this week. "Some dip-buying pressure emerged on the aluminium market this...