LIVE FUTURES REPORT 25/02: LME aluminium up 2%, copper at $9,400, nickel down to $19,200

The price of aluminium showed a 2.3% rise and held close to its new 2021 high of $2,243 per tonne during trading on the London Metal Exchange on Thursday February 25.

The price of nickel was the only one among the base-metals complex to close lower day on day at the 5pm close, being down by 2.6%.
Aluminium’s three-month price was up to $2,235 per tonne at the close, from Wednesday’s 5pm price of $2,184.50 per tonne.
“LME aluminium was able to absorb most of the earlier selling pressure on February 24 and [convert it] into a bullish day. The return of buying interest has greatly outweighed sellers and, with the upper channel now tagged, the LME aluminium price needs to make a decision,” Fastmarkets analyst Andy Farida said.

“A breakout...

Published

Ana de Liz

February 25, 2021

18:03 GMT

London