Tin’s three-month price neared yet another all-time peak at $35,795 per tonne on Wednesday August 11 on the London Metal Exchange. Most other base metals, copper being the sole exception, were also up while the US Dollar Index pulled back slightly.
LIVE FUTURES REPORT 13/04: Lower Dollar Index pushes aluminium close to 2021 high; zinc up 1% Aluminiumâs futures price traded close to its 2021 year-to-date high at the close of trading on the London Metal Exchange on Tuesday April 13, while most metals recovered their losses from Monday because of a tumble in the US Dollar Index.
The three-month price of aluminium closed at $2,993 per tonne at 5pm, but had reached $2,295 per tonne during trading, just $6 per tonne below its year-to-date high from March 26. It did so on relatively thin volumes, however, which totaled 9,800 lots by 5pm.
âWe do think that the light metal is hanging on to the price-supportive dynamics, which include electricity shortages in Chinaâs autonomous region of Inner Mongolia that have forced aluminium processors, such as Xinhengfeng Energy, to cut production of processed aluminium,â Fastmarkets analyst Andy Farida said.
LIVE FUTURES REPORT 15/02: LME aluminium edges close to 2021 high on supply concerns, zinc up 2% Aluminium futures closed at a price of $2,218 per tonne on the London Metal Exchange on Monday March 15, showing almost double the volumes traded in copper, and with improved demand and tight availability of the light metal edging its price upward. The price of aluminium reached $2,235 per tonne during Monday, just $8 per tonne below its 2021 year-to-date high set on February 25, and finished at 5pm 2.1% higher than Friday’s closing price of $2,171 per tonne.
More than 17,600 lots of the metal had traded by 5.15pm on the LME, approaching double the copper volumes, which were just under 9,900 lots.