The three-month aluminium price on the London Metal Exchange continued its decline at the close of trading on Monday March 30, settling at its lowest level since April 2016, while a steady uptick in lead saw its outright price close at a two-week high.
Aluminium's underlying price on the LME closed at $1,530.50 per tonne on Monday afternoon, its lowest level in just under four years, while turnover topped the base metals complex with just over 13,000 lots exchanged by the close. While broad risk aversion across the global financial sector remains the key headwind for metals prices, LME aluminium inventories have been subject to persistent inflows, with total on-warrant material climbing from 791,850 tonnes to 994,000 tonnes. Exemplifying this, a fresh inflow of just over 24,000 tonnes was...