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Good morning from Metal Bulletin’s offices in Asia as we bring you the latest news and pricing stories on Wednesday May 15.
Base metals prices on the Shanghai Futures Exchange diverged during Asian morning trading on Wednesday, with rising stocks and a surge in the dollar sinking copper.
Check Metal Bulletin’s live futures report here.
|SHFE snapshot at 11.01am Shanghai time|
|Most-traded SHFE contracts|
|Price (yuan per tonne)||Change since previous session’s close (yuan)|
|LME snapshot at 04.01am London time|
|Latest three-month LME Prices|
|Price ($ per tonne)||Change since previous session’s close ($)|
The increased acceptance by humans that they cannot battle against the rise of technology and algorithmic trading has brought numerous changes to the type of trades taking place on London Metal Exchange, according to Marex Spectron’s head of market analytics Guy Wolf.
Aluminium premiums in Japan and Europe fell over the past week, with supply concerns relating to the sanctions placed on Russian aluminium producer UC Rusal continuing to ease. In the United States, limited spot activity kept the Midwest-delivered premium flat.