Rolling LME/SHFE price report 26/05: Base metals prices slide lower; tin contangos strengthen

Welcome to the rolling base metals price report tracking the Shanghai Futures Exchange and London Metal Exchange markets on Tuesday May 26. This article will be updated throughout the day with the latest on prices, comments, economic data and analysis.

Closing update
Base metals prices dropped further during kerb trading on the LME, with the exception of zinc, which remained flat against Friday's closing level. Tin prices were the major losers, dropping $335, followed by copper, down $55.50. Meanwhile, contangos for the soldering metal strengthened, moving out to a $40 contango on the cash-to-three-month spread, from $27 earlier in the day.
5PM Evening evaluations
  Closing price ($/t) Change from prvs day ($)
Copper 6106.5 -55.5
Aluminium 1752 -16
Zinc 2177 0
Lead 1936 -11
Nickel 12675 -35
Tin 15490 -335

15:58 BST update
Edward Meir, of INTL FCStone, had this to say in an afternoon note, on copper and aluminium's weak performances:
"Copper is at $6,136, down $25 and trading between $6,131 and $6,230. It seems we are heading to $6,040 next, which is where we see trend-line support emerging.

"Aluminium has completely...

Published

Claire Hack

Shivani Singh

May 26, 2015

17:06 GMT

London, Singapore