Rolling LME/SHFE price report 28/05: Cu, Al prices regain some strength; Sn, Ni edge down

Welcome to the rolling base metals price report tracking the Shanghai Futures Exchange and London Metal Exchange markets on Thursday May 28. This article will be updated throughout the day with the latest on prices, comments, economic data and analysis.

17:20 BST udpate Category I LME member Triland had this to say on nickel and tin in a note on the latest Commitment of Traders Report: "Even though nickel took a turn to the negative last week, fund managers reduced their total net long positions by 10% to a total of 11,850 lots. It will be interesting to see what happens this week, as the sales pressure increased substantially out of China. Physical users were on the buy side, as cheaper prices triggered some consumer interest. "Tin once again saw minimal change in [open interest] and fund/trade exposure, reflecting indecisive price action. Traders, hedgers and punters are sitting on their hands and leaving LME tin to prepare its next move, it would seem." Five Commitments of Traders Reports are published by the LME by the close of business every Tuesday. Closing update Yesterday's big gainers, nickel and tin, were the only two base metals to lose...

Published

Claire Hack

Shivani Singh

May 28, 2015

17:20 GMT

London, Singapore