LME started the new trading month poorly Despite the persistent backwardation in its cash/three-month spread, which has tightened to $20.50 per tonne, only 2,725 tonnes of aluminium arrived into LME sheds and this was easily...
After three consecutive weekly declines, LME aluminium started the new trading month poorly, weighed down by weaker economic data out of China, which lends credence to concerns about the potentially negative impact of the trade dispute with the US. The resilient dollar index is weighing on the base metals complex too. Aluminium prices dropped 1.4% on Monday July 2, after the weekly average LME cash price of $2,177 per tonne last week slipped $2,182 per tonne the previous week.
LME and SHFE stocks continue to decline
Receive a free sample of market analysis and price forecasts.
Free SampleReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.
Subscribe