Base metals prices on the London Metal Exchange were little changed during morning trading on September 20, with the complex stabilizing after recent volatile trading conditions.
The three-month aluminium price edged up $4.50 but lacks any concrete direction, with the market continuing to wait for more clarity over whether the United States' sanctions against aluminium producer UC Rusal will be lifted by October 23 as planned. "Aluminium doesn't know which way to go at the moment. A lot of the market is dependent on the Rusal situation and the LME price is just biding its time," a trader said. Aluminium stocks on the LME continued to decline, with a further 4,400 tonnes delivered out today and 5,000 tonnes canceled across multiple locations. On-warrant stocks remain at their lowest since 2007. Zinc, the strongest performer of the complex on Wednesday, also edged...