LIVE FUTURES REPORT 22/05: 14kt fresh cancellation keeps LME aluminium above $1,500/t

A 14,350-tonne fresh cancellation of aluminium in London Metal Exchange-approved Asian sheds, as of 9am on Friday May 22, kept the metal’s three-month price above the psychological level of $1,500-tonne.

The light metal’s LME three-month contract was trading at around $1,506.50 per tonne during morning trading, down from the previous day’s $1,521-per-tonne close. LME aluminium futures breached $1,500 per tonne to close at that level on May 18 having previously languished below that level for almost three weeks due to a succession of inflows of material into Asian LME sheds. In Malaysia, 10,450 tonnes of material was freshly canceled in Johor and 3,750 tonnes at Port Klang, as of 9am this morning. And 150 tonnes of aluminium...

Published

Amy Hinton

May 22, 2020

10:45 GMT

London