- Opening stocks of aluminium at LME warehouses fell to 635,975 t, declined 22% m-o-m as against 814,275 t on 1-Mar’22. Nickel stocks were recorded at 72,390 t, down 9% m-o-m as against 79,524 t on 1-Mar’22.
- The impact of decreasing stocks were seen in LME nickel cash prices, which opened at $34,254/t today, up 4.43% compared to previous trading day’s closing.
- Aluminium cash prices were up slightly at $3,504/t today as against the previous closing.
- Resurgence of covid impacting alumina and copper production in china due to restricted movement of raw materials, Copper Stocks at SHFE registered a new low of 102,055 t down 21.2% w-o-w basis.
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