Metal prices today October 28: Copper, aluminum, and nickel all fell

Metal prices today October 28: Copper, aluminum, and nickel all fell

Copper prices for December delivery, the most traded on the Shanghai Futures Exchange, fell 7.6% to 19,200 CNY/ton. Aluminum prices fell as much as 5% to CNY 20,065/ton, the lowest since August 20. Nickel prices traded on the Shanghai floor fell as much as 4.9% to the lowest level since October 14 at 143,500 CNY/ton.
Copper for delivery in December 2021, the most traded on the Shanghai Futures Exchange, fell 7.6% to 19,200 yuan per tonne (equivalent to 2,999.95 USD), the lowest level since July 22.
Three-month copper futures on the London Metal Exchange fell 2.1% to a two-month low of $2,630 a tonne, copper has fallen 19% since October 18 when the contract hit a high. the most since July 2008.

Aluminum prices in Shanghai continued to fall to their lowest levels in more than three months, as falling coal prices eased worries about rising production costs for the energy-intensive metal.

Accordingly, aluminum prices on August 27 on the Shanghai futures exchange fell by up to 5% to CNY 20,065/ton, the lowest since August 20. Then it increased slightly to 20,135 CNY/ton, down 4.6% for 6 consecutive sessions.
On the London exchange, aluminum for three-month delivery fell 3.8% to $2,723 a tonne, the lowest level since September 3.
The aluminum price difference between spot futures and three-month futures is $125 a tonne, indicating a tight supply nearby due to shrinking inventories in London.
China’s thermal coal prices rose to a record 1,892 yuan per tonne on October 19 due to supply shortages, but coal prices have lost about 50% due to a series of measures taken by the Chinese state to limit rising energy costs.
On the Shanghai Commodity Futures Exchange, tin prices fell 8% to CNY 258,370 a tonne, the lowest since September 22. Tin price traded on the London floor fell to 34,280 USD/ton. Lows not seen since October 5.

Nickel prices traded on the Shanghai floor fell as much as 4.9% to 143,500 CNY / ton, the lowest level since October 14, and nickel prices on the London floor fell as much as 0.6%, trading near the lowest level. in two weeks is 19,300 USD/ton. Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton).

Typename Period October 27 Difference from previous transaction
Steel price Delivered in January 2022 4.770 -93
Copper price Delivery in December 2021 71.630 -380
Zinc price Delivery in December 2021 24.270 -285
Nickel price Delivery in December 2021 150.480 -1.210
Silver price Delivery in December 2021 4.905 -112
Source: VINANET/VITIC/Reuters

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