LIVE FUTURES REPORT 04/05: Al, Ni biggest risers; LME complex still on incline

Prices on the London Metal Exchange continued to the upside on the first trading day of May, with aluminium and nickel marking the biggest increases on the morning of Tuesday May 4, with aluminium reaching new year-to-date highs.

The metal was up by 1.5% on Tuesday morning at $2,432 per tonne after it had already reached a new 2021 peak of $2,441.50 per tonne during early trading and despite the absence of Chinese trading due to the Labor Day holiday May 1-5). Aluminium is chasing its April 2018 high - at $2,718 per tonne - and was up by 7.7% over last month on the overall macro bullish sentiment toward metals and market concerns that output in China could be constrained due to environmental policies.  “Growing concerns about the impact on...

Published

Ana de Liz

May 04, 2021

09:05 GMT

London