Opening Bell: Base metals market update

  • LME aluminium three-month contract price drifted down slightly by 0.58% to $3,258/t as against the previous closing, while the contract price for copper was at $10,054/t, a rise of 1.51% d-o-d.
  • The three-month contract price for nickel was at $45,590/t. Tin was at $42,277/t, down 1.91% d-o-d.
  • SHFE aluminium Apr’22 contract rose by 2.5% d-o-d and is currently hovering around RMB 22,250/t ($3,505/t).
  • Opening stocks of aluminium in LME have fallen to 733,900 t, declining for the 12th consecutive day.

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