Opening Bell: Base metals market update

  • The LME aluminium three-month contract sunk 0.48% to $3,504/t as against the previous closing.
  • The three-month nickel contract was at $28,159/t, down 10.26% as against the previous closing. Opening stocks of nickel in LME warehouses was recorded at 73,578 t.
  • SHFE aluminium April contract remained largely stable d-o-d currently hovering around RMB 23,015/t ($3,613/t).
  • Opening stocks of aluminium in LME warehouses fell to 695,825 t, declining for the 16th consecutive day.

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