Opening Bell: Base Metals Market Update

  • LME nickel cash price opened at $33,059/t today, a 0.12% drop as against the previous day’s closing, while the three-month nickel futures closed at $31,803/t yesterday, down 2.82% as against 28 March. Stocks touched a new low of 72,630 t.
  • Aluminium cash prices fell 2.62% d-o-d to $3,489/t today, resulting in primary players lowering their offers too.
  • Opening stocks of aluminium at LME warehouses fell to 663,225 t, declining for the 21st consecutive day.

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