The London Metal Exchange three-month aluminium, nickel and zinc prices all rose by over 1% in morning trading on Thursday December 24, with the market weighing likely deals on US coronavirus relief funds and Brexit against the renewed pandemic spread across Europe.
"Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, suggesting markets are content to consolidate while many cross currents muddy the waters," Fastmarkets head of base metals and battery research William Adams said in a morning note.
The aluminium price rebounded by 1.4% to $2,033.50 per tonne after dropping at the close yesterday but remains...