November 29, 2021 – After last Friday had not ended so positively for the stock markets overall, the markets regained their footing on Monday and got off to a friendly and positive start. Oil contracts had already risen by over 4% on Sunday. Aluminium is currently the front-runner among the base metals with a plus of about 2%.
LME Base Metals start the week on a positive note
After closing in the red on Friday, 26 November 2021, LME Base Metals have already risen again today, Monday. Nickel, lead, zinc, tin and copper are up this morning. Aluminium is currently the strongest gainer with about 2%.
Oil contracts – Brent Crude Oil, WTI, Heating Oil – which suffered the most on Friday, have already risen again by up to 5%. A positive trend was already evident here on Sunday, when U.S. crude and Brent crude jumped by more than 4%.
German DAX up at the start of trading
The German stock index started Monday’s trading session up more than 1.1%. FTSE 100 and French CAC 40 futures are also up 1%. Overall S&P 500 volatility is also down 11% from Friday, indicating that markets are calming down. And Nikkei 225 futures are also up more than 0.8%.
Aluminium Billet Stocks in China Down 21.5%
Aluminium billet stocks (AA 6063) in five major Chinese consuming regions fell 21.5% last week. Strong demand and delayed shipments are putting pressure on stocks. Stocks are expected to fall again this week.
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.