LIVE FUTURES REPORT 14/02: LME base metals consolidate after two-day rebound; nickel prices edge higher on strong demand

Base metals prices on the London Metal Exchange were mostly consolidating during morning trading on Wednesday February 14, with the complex trying to stabilize after two days of rebounds.

“Despite the low volumes, the resilience of the markets at their new higher levels is impressive, there is some light short-covering but more importantly a genuine lack of selling as the US dollar slips lower yet again,” Marex Spectron said. After climbing an average of 1.8% at the close on Tuesday, the majority of the complex remains rangebound this morning with nickel the highest climber. The three-month nickel price rose a further $85 to push back above the $13,500 per tonne support barrier. Demand from the stainless steel sector remains strong which is supporting...


Alice Mason

February 14, 2018

10:30 GMT