Three-month base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday November 5, with a prolonged US election process limiting investor sentiment despite a continued decline in the US dollar index, while aluminium's forward spreads widened over the afternoon.
Aluminium's underlying price on the LME closed at $1,897.50 per tonne on Thursday afternoon, declining by just under 1% from Wednesday's closing price of $1,908.50 per tonne and slipping below the nearby $1,900-per-tonne support level.Turnover for LME aluminium was moderately low, with just under 12,000 lots exchanged by the 5pm close, the lowest daily trading volume since October 27.Despite a negative close, total open interest in the light metal remained on an uptrend, with total open interest on the LME now at 919,156 positions...