The London Metal Exchange three-month aluminium price held above $1,500 per tonne during morning trading on Wednesday May 27, despite a fresh inflow of 19,275 tonnes of material into LME sheds in Malaysia as of 9am.
The LME three-month aluminium contract was the only base metal to make modest gains this morning, most recently trading around $1,522 per tonne, up $2.50 per tonne from the previous day's close at $1,519.50 per tonne. A 4,500-tonne outflow of the light metal, also from Malaysian warehouses, and a 1,000-tonne fresh cancellation - 500 tonnes in Gwangyang, South Korea, and 500 tonnes in Johor, Malaysia - offered some support to LME aluminium futures despite the sizeable inflow of material.Total...