LIVE FUTURES 29/10: China thermal coal intervention drives weekly aluminium losses

Base metals prices on the London Metal Exchange closed lower on a week-on-week basis on Friday October 29, after Chinese state planners intervened to cool surging thermal coal prices this week.

The LME three-month aluminium price closed at $2,716 per tonne on October 29, down from $2,746 per tonne at Thursday’s close and was down by nearly 5.3% from last Friday’s $2,868 per tonne. The price is also down by just under 5% compared with the closing price of $2,857 per tonne on October 1.

“Yet again, the market gets hit by [China National Development & Reform commission] comments that coal has further to...

Published

Justin Yang

October 29, 2021

17:27 GMT

London