The London Metal Exchange aluminium price was relatively steady during morning trading on Monday December 23, shrugging off a large cancellation of 107,125 tonnes from LME warehouses.
Most of the cancellations were at warehouses in Port Klang and Singapore, while there were also 4,625 tonnes canceled in Rotterdam as well. The three-month aluminium contract traded at $1,807 per tonne at 9:45 am London time, up 0.3% from Friday's close. Some market participants expected the cancelations, with LME aluminium spreads in January and February mostly flipping...