Base metals on the London Metal Exchange were all higher during morning trading on Wednesday November 21, with risk-averse investors capitalizing on lower prices earlier in the week amid a slight downturn in the US dollar and continued uncertainty over US-China trade relations.
Climbing just under 1% over the morning, copper's three-month price pushed back above $6,200 per tonne while volumes remain moderate at 4,239 lots changing hands as of 10:13am London time. Similarly, aluminium futures appreciated over the morning on around 10,400 tonnes placed back on warrant in LME-listed warehouses in Port Klang, taking the total count of rewarranted stock in the region beyond 20,000 tonnes this week. "Aluminium bucked the trend yesterday and gained slightly. The International Aluminium Institute reported that although daily global aluminium production grew by 4.1% year on year in October, it was down by 1.2% month on month," Commerzbank Research said in a morning note. "The lower Chinese aluminium exports in October had also already pointed...