Tag: backwardation aluminium spreads

Nickel leads LME drop as India scrap shows resilience US–Iran conflict and Suez shipping halt amplify supply risk premium Base metal prices on the London Metal Exchange (LME) mostly weakened at the close on 02 March 2026, despite selective gains. Aluminium advanced 1.19% to $3,195/t, with inventories steady at 465,550 t. Nickel declined 2.97% to…