Prices moved sideways on the London Metal Exchange at the close of trading on Friday March 12, with the base metals complex seeing another session of consolidation following recent rallies.
"After a volatile couple of weeks, the base metals have taken a breather and largely drifted sideways this week," Neil Welsh, a broker for Britannia Global Markets, said."Speculative interest has been a notable driver in the move to recent highs but the fundamental market has attracted more attention this week, with physical metal coming into warehouses and raising global stocks," he added.Indeed, aluminium stocks on the LME rose by nearly 50% throughout the week to 1.9 million tonnes on...