london metal exchange

Aluminium Rides Crest of Industrial Metals Wave to New High

Aluminium Rides Crest of Industrial Metals Wave to New High

A weaker dollar helped propel aluminium to peak above its 50-day and 100-day moving averages on Wednesday, gaining 1.8 percent and closing the day at US$2,177.50 per metric ton. Softness in the greenback motivated increased investments in metals across the board, as...


LME Mulling Rent Reduction for Stored Aluminium

In a bid intended to lure back ever-shrinking inventories of metals including aluminium, the London Metal Exchange is attempting to renegotiate rental rates with its network of metal warehouses. “The LME has initiated a discussion with the warehouse community to find a solution to collectively cut the relatively high headline rents which can keep metal […]

Chinese Aluminium Cuts Buoy Prices at LME

Ripples from capacity cuts in the People’s Republic of China washed over the London Metal Exchange yesterday, raising prices to their highest point in over a month. At the markets’ close, benchmark aluminium ended at US$1,944 per metric ton, an 0.8 percent gain over the previous day and the highest the metal has closed since […]

Enforcement Against Illegal Aluminium Smelters Planned for This Week in Xinjiang

Aluminium prices in the People’s Republic of China are up thanks to indications from the Xinjiang Uyghur Autonomous Region that a long-promised crackdown on illegal smelting capacity is underway. According to a document obtained by Bloomberg, local governments will begin checks this week on smelters built since the spring of 2013 that are in violation […]

Former LME Chief Debuts New Non-Ferrous Metals Trading Platform

The world’s oldest and biggest metals exchange faces new competition early next year when a trading platform begun by its former head begins trading in the first quarter. The new platform, christened Non-Ferrous Exchange Markets (NFEx), will be piloted by a five-member board led by LME alumnus Martin Abbott and will operate on architecture designed […]