Aluminium's three-month price on the London Metal Exchange consolidated higher during morning trading on Tuesday March 19, with price action largely unaffected by a rewarranting of just under 100,000 tonnes in Malaysia, accounting for around 10% of total LME stocks.
Volumes traded for aluminium on the exchange continue to lead the complex, with just over 7,500 lots changing hands as of 9:50am London time. The metal's cash/three-month spread remains in a firm contango recently seen at $19.75 per tonne. Since January, LME stock flows in aluminium have been volatile, typified in more than 400,000 tonnes of material booked for removal resulting in queues forming across the LME's warrant depository and warehouse network - principally in...