Rolling LME/SHFE price report 29/05: Base metals prices finish the week on a weak note

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.

17:32 BST update Three-month aluminium prices closed at $1,739.75 per tonne, down $36.25. Cash prices for the light metal were at $1,698.85. Closing update Base metals prices continued to drift lower as the market closed in London on Friday, with the exception of tin, which clawed back $25 day-on-day to close at $15,600 per tonne on a three-month basis. Nickel prices lost the most ground, declining $185 on a three-month basis. The tom-next spread for the alloying metal ended the week in a $5 backwardation, while the cash-to-three-month contango stood at $32. Closing aluminium prices have yet to be confirmed. On the SHFE, the most-traded August copper contract was trading at 44,220 yuan ($7,217) per tonne at 1129 Shanghai time, after opening at 44,130 yuan per tonne. 10:18 Shanghai time update: Traders are keeping a close eye on the spreads on aluminium, which have stablised somewhat...

Published

Claire Hack

Deepali Sharma

May 29, 2015

17:32 GMT

London, Singapore