Rolling LME/SHFE price report 18/05: Aluminium prices tick down markedly as London closes

Welcome to the rolling base metals price report, tracking the London Metal Exchange and Shanghai Futures Exchange markets on Monday May 18. This article will be updated throughout the day with the latest prices, comments, economic data and analysis.

17:33 BST update
Sucden Financial had this to say on aluminium in its daily base metals report, as three-month prices for the light metal ticked down markedly into the end of the day:
"Aluminium responded well to Friday's poor technical close, and third Wednesday [cash] selling seemed to be the dominant factor, with intermittent scale-down consumer buying. We see little in the way of major support until the $1,770 area if a close through $1,817 is seen."
Closing update
After showing strength throughout the day, tin prices lost $75 on a three-month basis as the market closed in London on Monday. The rest of the base metals complex also saw weakness, and three-month nickel was the major loser, down $229 compared with Friday's close.

Spreads fluctuated somewhat as the day ended, remaining in contangos, which widened in some cases and eased off in others. The copper cash-to-three-month...

Published

Claire Hack

Ellie Wang

Charlotte Radford

May 18, 2015

17:33 GMT

Shanghai, London