LIVE FUTURES REPORT 16/04: LME Ali price rallies 5%; nickel at 3-month high

Aluminium on the London Metal Exchange continued its record-breaking rally by the close of trading on Monday April 16, rocketing over 5% to reach a high of more than $2,400 per tonne.

The light metal closed a dollar short of the $2,400 per tonne mark, its highest since September 2011.

Despite lighter volumes in comparison to last week’s 35,871 lot average, aluminium’s strong sentiment continues to dominate the complex.

“Activity over the weekend regarding Rusal and aluminium may have made investors more cagey. But it seems the same story is still at play and last week’s sentiment is carrying over, even at these levels,” Geordie Wilkes, head of research at Sucden Financial told Metal Bulletin.

“I think it’s largely due to what’s going to happen to that material and where it will end up,”...

Published

Hassan Butt

April 16, 2018

18:00 GMT

London