LIVE FUTURES REPORT 19/05: 26.5kt inflow caps gains in LME aluminium; nickel gains 1.6%

Aluminium was the only LME three-month base metals contract to close negatively on Tuesday May 19, with gains in aluminium futures capped by a 26,500-tonne fresh inflow as of 9am.

The significant inflows arrived at into LME-approved sheds at Port Klang, Malaysia and Toledo in the United States, with 21,500 tonnes put into warehouses at Port Klang and 5,000 tonnes arriving in Toledo. In Malaysia, a 4,400-tonne outflow from Port Klang and Johor failed to temper the impact of the inflows on LME aluminium futures, which closed below $1,500 per tonne at around $1,492 per tonne this afternoon, the only LME base metal to close down on the day. Likewise, the fresh cancelation of 6,075 at Port Klang failed to buoy the three-month aluminium contract despite...

Published

Amy Hinton

May 19, 2020

18:30 GMT

London