Opening Bell: Base Metals Market Update

  • LME nickel cash price opened at $32,659/t today, a 4.09% drop as against the closing on the previous trading day, while the three-month nickel futures closed at $32,725/t yesterday, down 7.79% as against 25 March. Stocks touched a new low of 72,816 t.
  • Aluminium prices rose 1% today as against the last day’s opening price, resulting in the primary players raising their prices too.
  • Opening stocks of aluminium in LME warehouses fell to 671,025 t, declining for the 20th consecutive day.

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