Opening Bell: Base Metals Market Update

  • LME nickel cash price opened at $32,749/t today, unchanged compared to previous day’s closing, while the three-month nickel futures closed at $32,893/t yesterday, up 3.43% as against 29 March. Nickel stocks touched a new low of 72,540 t.
  • Aluminium cash prices remained largely stable d-o-d at $3,522/t. Primary players have lowered their offers on unclear market scenario.
  • Opening stocks of aluminium at LME warehouses fell to 654,475 t, declining for the 22nd consecutive day.

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