LIVE FUTURES REPORT 24/01: LME nickel, lead, zinc prices set multi-year highs on plummeting dollar

Base metals prices on the London Metal Exchange put in a strong performance on the afternoon of Wednesday January 24, supported by the weaker dollar, to close in positive territory across the board.

The three-month nickel price ended more than 5% higher than Tuesday’s closing price after hitting its highest since June 2015. Volumes were also high today, with more than 18,000 lots traded by 17:15 London time, the highest since September 2017.
“The greenback has been sent tumbling in the wake of comments from US Secretary of the Treasury Mnuchin talking up a weak dollar from a trade perspective,” Ole Hansen of Saxo Bank said.
The dollar index bottomed out at 89.23 earlier today, its lowest since December 2014.

“Not helping matters...

Published

Alice Mason

January 24, 2018

17:43 GMT

London