Aluminium adds $25 per tonne

Most precious metals prices were lower on Tuesday. The exception was April platinum, which added $5.50 to $1,242 per troy ounce. Otherwise, April gold dropped $1.40 to $662.50 per troy ounce on the New York Mercantile Exchange, following crude oil prices lower and as stockpiles fell by 197 troy ounces. Silver inventories were lower as well, but May silver fell 13 cents to $13.28 per troy ounce. June palladium was $3 lower to $356 per troy ounce.

Among base metals, copper prices dropped by $150 to trade at $6,695 per tonne late in the session after going as high as $6,890 earlier in the day, a new high for the year. There have been several predictions that the second quarter would see a supply deficit in copper. Aluminium, meanwhile, added $25 to $2,754 per tonne on the completion of a deal that created the world’s biggest aluminium producer.