The London Metal Exchange three-month aluminium price was trading down by 0.5% at around $1,730 per tonne during morning trading on Wednesday October 1.
Concurrently, a significant 29,000-tonne inflow of material into LME-approved Asian warehouses suppressed the light metal's three-month price.17,000 tonnes of metal entered the Gwangyang, South Korea warehouse, while a lesser 12,350 tonnes flowed into warehouses in Singapore. A comparatively low 3,225 tonnes of aluminium were removed from global warehouses although a marginally higher 3,500 tonnes were freshly canceled. The huge influx of material comes after London warehousing firm Steinweg put 15 warehouses online...