Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday June 24, with thin volumes capping the complex in narrow trading ranges amid a weaker US dollar index.
Despite this morning's fresh cancelation of some 14,200 tonnes of aluminium, the light metal's three-month price remains subdued, recently trading at $1,769 per tonne.Some 10,400 tonnes were booked out of LME-registered Singapore warehouses this morning, with a further 3,500 tonnes freshly canceled in Port Klang. Aluminium futures have failed to close above $1,800 per tonne since May 28, while open interest is now moving back toward 906,000 open positions, from some 952,000 positions on June 18. Despite the price decline, there...