The three-month aluminium price on the London Metal Exchange was subject to strong afternoon buying before the close of trading on Monday November 2.
The upward momentum was broadly incongruous with a strong US dollar index ahead of the country's presidential election this week, while zinc followed higher in a mixed close for LME base metals.Aluminium's outright price closed at $1,866 per tonne on Monday afternoon, climbing from an intraday low of $1,834.50 per tonne, but failing to close at the daily high of $1,875 per tonne. Turnover was moderate at just over 14,000 lots exchanged by the 5pm London close.Despite steady forward buying, LME aluminium's forward spreads widened over the afternoon, with the metal's benchmark cash/three-month spread widening to a $5.75 per tonne...