LIVE FUTURES REPORT 04/07: LME base metals prices end lower; nickel declines on demand concerns

Base metals prices uniformly ended lower on the London Metal Exchange on Tuesday July 4, extending the early-morning lower trend.

Nickel fell more than $200 per tonne. The current weakness is said to be due to weakening demand after the Indonesian government’s decision in January to ease the country’s ore export ban. “Nickel prices will, at best, stabilise until clarity emerges over output from the Philippines and Indonesia,” an analyst said. The three-month tin price also fell $200 from Monday’s close, with the backwardation in the cash/three-months spread moving out to its widest since 2015 above $300 per tonne. Stock at LME-approved warehouses declined a further 25 tonnes...


Alice Mason

July 04, 2017

18:04 GMT