LIVE FUTURES REPORT 10/08: LME nickel price closes 2% higher; copper dips

Base metals prices trading on the London Metal Exchange were broadly higher in the afternoon of Thursday August 10, despite a small dip in copper prices.

The three-month aluminium price continued to consolidate recent gains, closing $10 higher at $2,037 per tonne. In spreads, aluminium’s August/September contract is currently in a $4.50 backwardation. Nickel stole the show at the 5pm close today, up over 2% on yesterday’s close price, while zinc and lead prices were also firm. "We maintain a positive view overall because recent economic signals from China and rising cancellations, together with mine disruptions, suggest the underlying fundamentals should gradually tighten towards the end of the year," Metal Bulletin analyst James Moore said. Copper declined $32 per tonne at the...


Alice Mason

August 10, 2017

17:24 GMT