LIVE FUTURES 21/10: Aluminium prices down 5% on LME, nickel C/3M in $88 backwardation

Base metal prices on the London Metal Exchange were down across the board at the 5pm close of trading on Thursday October 21, with market participants beginning to sell off material following the recent price rally.

The three-month aluminium price fell by 5.2% to $2,910 per tonne on Thursday, down from $3,069.50 per tonne at Wednesday’s 5pm close after trading in large volumes and more than 34,180 lots. “Our short-term view toward LME aluminium has not changed,” Fastmarkets analyst Andy Farida said on Thursday. “Given last week’s extremely bullish run, the light metal is...

Published

Imogen Dudman

October 21, 2021

16:48 GMT

London