Base metals on the London Metal Exchange were mixed during morning trading on Monday December 31, with low volumes across the board limiting the complex to narrow trading ranges despite a marked slump in the US dollar index.
Climbing furthest over the morning, both nickel and zinc futures appreciated 0.6% amid a continued drawdown in LME inventory, while a dominant warrant holding position holds 50-79% of total zinc stocks, according to LME data. The three-month copper price was similarly higher over the morning, pushing back above $6,000 per tonne, while the rest of the complex was trading marginally lower. Volumes traded on the exchange have been moderately low over the past week due to the holiday period, with just 1,844 lots of aluminium traded over the morning topping the complex. While macro tensions continue to limit commodity...