Base metals prices on the London Metal Exchange were higher across the board during morning trading on Monday February 26, with the dollar on weak footing once again.
"Not unexpectedly, the markets have opened in positive territory as China returns from its New Year holidays and the metals will be taking encouragement from the Asian equity markets that are all in positive numbers," Malcolm Freeman, Kingdom Futures said. "Moving forwards the LME stocks look set to becoming a driver of spreads and prices if the current trend of canceled warrants persists and will make backwardations more commonplace and may well test the lending guidance levels before the year is over," he added. The three-moth aluminium price was...