LIVE FUTURES: Aluminium rises 5.3% in July to new year-to-date peak, tin at new all-time high

Spurred on by supply tightness and steady demand, the aluminium three-month price on the London Metal Exchange rose to a new 2021 high of $2,642 per tonne on July 30, while tin and nickel's three-month price, also supported by strained fundamentals, rose over 10% in July.

Aluminium's price was up 5.3% on Friday from a closing price of $2,507.50 per tonne on July 1 and at its highest since April 2018. 
A range of bullish supply news affected aluminium this month, including the Russian government's export duty tax, which has taken premiums in the US to news highs and is keeping Rotterdam premiums on the rise, together with power cuts in the Yunnan province and floods in the Henan province, in China.

There have been outflows every day in the month of July for aluminium stocks on the LME, with the on-warrant amount at the...

Published

Ana de Liz

July 30, 2021

17:01 GMT

London