LIVE FUTURES REPORT 18/11: Downward pressure mounts for LME aluminium price after 92,000-tonne inflow; nickel holds below $15,000 per tonne

The three-month aluminium price on the London Metal Exchange was lower during morning trading on Monday November 18, with continuing inflows of material into LME-registered warehouses in Asia fueling selling pressure.

The light metal was recently at $1,746 per tonne, down by around 0.65% from Friday’s closing price of $1,755 per tonne.  Turnover was moderately high for aluminium over the morning, with some 2,450 lots exchanged as of 9:10am London time.  This morning’s inflow of some 92,875 tonnes saw 37,750 tonnes enter Johor and 54,825 tonnes delivered into Port Klang, taking LME on-warrant aluminium stocks back above the 1-million-tonne mark for the first time since April 2018. Meanwhile, forward spreads in aluminium remain tight, with the metal’s...

Published

Hassan Butt

November 18, 2019

10:33 GMT

London