Base metals prices on the London Metal Exchange continued to rise during morning trading on Wednesday April 11, with aluminium's momentum continuing to eclipse the rest of the complex.
"Aluminium continues to be the main story, and is dominated by recent sanctions against Rusal. If that material is not deliverable on the LME, I expect current sentiment to continue," Geordie Wilkes, head of research at Sucden Financial, told Metal Bulletin. The LME introduced a "temporary conditional suspension" on placing Rusal metal on-warrant, which will take effect on April 17, Metal Bulletin reported yesterday. Aluminium's three-month price reached a high of $2,260 per tonne this morning, the highest since January 29. The light metal's traded volume continues to lead the complex, reaching 12,277 lots by...