Aluminium's three-month price on the London Metal Exchange was little changed during morning trading on Tuesday February 19, with continued volatility in stock flows across LME-listed Malaysian warehouses doing little to jolt the metal's stagnant price action.
Three-month aluminium has failed to trade above $2,000 per tonne since October 2018 and has consolidated in thin ranges around $1,850 per tonne since the start of the year. Equally, more than 300,000 tonnes of aluminium has left predominantly Malaysian warehouses since the start of the year, while this morning's rewarranting of just under 15,000 tonnes has been met with little movement in the metal's three-month price. Additionally, open interest in aluminium this morning has dipped from its highest level since July 2018 at more than 92,000 open positions, to just over 90,000.Meanwhile, three-month copper is holding ground above $6,200 per tonne, with a decade-low in LME stocks continuing to support upward price action. Additionally, LME...