Opening Bell: Base metals market update

  • LME aluminium three-month contract price rose by 7.35% to $3,521/t as against the previous closing.
  • The three-month nickel contract was at $31,380/t, down 15% as against the previous trading day. Opening stocks of nickel in LME warehouses was recorded at 73,632 t.
  • SHFE aluminium April contract fell marginally by 0.3% d-o-d hovering around RMB 22,950/t ($3,606/t).
  • Opening stocks of aluminium in LME warehouses fell to 704,850 t, declining for the 15th consecutive day.

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