Aluminium's three-month price on the London Metal Exchange fell over 1% at the close of trading on Friday May 3, with downward pressure emerging amid more than 230,000 tonnes of inflows over the week, while continued US dollar strength deters investors.
Aluminium registered just over 10,000 lots traded at the close this afternoon, the lowest count since April 25, with thin volumes persisting due to national holidays in China this week. The aluminium price action had spent much of the morning session above $1,800 per tonne, but has since dropped to match its lowest level in three years at an intraday low of $1,796 per tonne. "More aluminium metal has emerged out of the 25 new LME-registered warehouses in Port Klang, Malaysia. Market participants expect up to 300,000 tonnes of fresh LME warrants...