Base metals prices on the London Metal Exchange were little changed during morning trading on Wednesday January 17, with prices looking to consolidate after Tuesday's sell off.
The three-month aluminium price came under pressure yesterday, closing down 2%. But they have edged $2 higher this morning. "Aluminium came under additional selling pressure after reports that the production hub of Xinjiang in western China has started boosting shipments of ingots to domestic consumers despite authorities trying to curtail capacity," ANZ Research noted on Wednesday. It was a similar story for copper, which lost over $100 per tonne at the close on Tuesday but was trading in positive territory this morning and looking set to recover. Zinc and lead prices held their own against the rest of the falling complex...