Base metals prices on the London Metal Exchange mostly stepped slightly lower during morning trading on Friday January 5 but are generally consolidating at higher levels.
Aluminium fell $12.50 but is still in a strong position, with supply-side reforms in China continuing to burnish its underlying fundamentals. The three-month price reached a fresh five-year high at $2,290.50 per tonne on December 29."After weakness and consolidation in the base metals earlier in the week, we thought yesterday's rebound may have been stronger but there does seem to be some hesitation in the markets," Metal Bulletin analyst William Adams said."But considering many of the metals' prices moved into fresh...