Tag: global oil supply concerns

LME metals prices show mixed picture; aluminium market shifts to backwardation on tight supply

Mar 12, 2026

—

by

Pranjaly

in Aluminium, Copper, Lead, Nickel, Non Ferrous, Zinc

China halts March fuel exports to secure domestic supply Hormuz tanker attacks raise oil supply risks, market volatility Base metals on the London Metal Exchange (LME) showed mixed trends but largely lowered d-o-d on 12 March 2026, reflecting cautious market sentiment. Aluminium gained 1.50% to $3,457/t, while zinc declined 1.09% to $3,309/t. Lead slipped 0.39%…