LIVE FUTURES 04/10: Most prices up on high energy costs, Chinese production concerns; Al up 2.1%, copper up 1.3%

Base metals prices on the London Metal Exchange were up across the board during trading on Monday October 4, pushed upward by ongoing power-rationing policies in China and surging energy costs affecting production in the physical market.

Nickel was the only exception, with the three-month nickel price down by 0.3% on Monday to $17,924 per tonne from $17,971 per tonne at Friday's 5pm close. 
"The base metals continue to face conflicting signals. Whilst low official warehouse inventory levels and other micro factors remain supportive, there is the small smattering of increasing macro concerns which affect our space," LME desk analyst at Marex Alastair Munro said on Monday.

"The squeeze in energy prices appears set to continue to be supportive with the production implications of supply...


Imogen Dudman

October 04, 2021

17:30 GMT