Opening Bell: Base metals market update

  • LME aluminium three-month contract price drifted down 0.09% to $3,280.5/t as against the previous closing. The copper contract was at $10,331/t, up 0.86% d-o-d.
  • The three-month nickel contract was at $36,915/t, down 12% as against 17 Mar’22 even as the nickel trading limit was increased to 15%.
  • SHFE aluminium April contract rose 2.1% d-o-d hovering around RMB 23,070/t ($3,624/t).
  • Opening stocks of aluminium in LME warehouses fell to 715,225 t, declining for the 14th consecutive day.

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