NORTH AMERICAN MORNING BRIEF 27/02: LME base metals firm; Para authorities order production cut at Alunorte refinery; China’s refined zinc imports jump
Date: Feb 28, 2018
The latest metal markets news and price moves to start the North American day on Tuesday February 27.
Base metals prices on the London Metal Exchange were mostly firmer during morning trading, but no significant movements are taking place.
The three-month aluminium price was $20 higher as it pushed back above $2,150 per tonne after further cancellations at LME-listed warehouses. 24,900 tonnes was cancelled in Port Klang, this morning, with an additional 9,900 delivered out of the same location.
This follows a 57,825-tonne cancellation of aluminium on Monday from warehouses in Johor, Port Klang and Rotterdam. But the aluminium benchmark spread remains in significant backwardation.
Here is how the LME base metals complex looked at 12.03pm London time:
