Opening Bell: Base Metals Market Update

  • The LME aluminium three-month contract price drifted down 1.26% to $3,277/t as against the previous closing, while the contract price for copper and zinc remained largely stable at $9,904/t and $3,798/t d-o-d.
  • The (SHFE) aluminium Apr’22 contract rose by 0.4% d-o-d and is currently hovering around RMB 21,800/t ($3,428/t)
  • Opening stocks of aluminium in LME-registered warehouses have fallen to 742,200 t, declining for the 11th consecutive day.

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