Spot activity remains slow because of the post-holiday lull and thehigh price environment. The London Metal Exchange three-monthprice jumped to $20,100 per tonne on January 2, the highest levelsince mid-October, before easing back to around $19,865 per tonneon January 3.The backwardation in the LME cash/three-month spread widenedagain to $75 per tonne from $40 per tonne before Christmas, deterringstock holding.
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