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[Ferro-Alloys.com] Aluminium and zinc spreads continued to trade in broad contangos in afternoon trading on the London Metal Exchange on Monday August 12, while outright prices for all metals moved sideways in the absence of macro cues.

 

Three-month copper prices finished the day at $7,251 per tonne, down from $7,275 per tonne a day earlier, after drifting lower as the dollar strengthened moderately in kerb trading. “The afternoon session in London saw prices ease back from the earlier highs. There was no significant economic data reported today but tomorrow sees US retail sales and trade balance plus eurozone industrial production,” a broker said in an evening note.