LIVE FUTURES REPORT 21/02: LME nickel price stages turnaround to close 2% higher; zinc, lead still under pressure

Nickel was again the star performer on the London Metal Exchange at the 5pm close on Wednesday February 21, ending with gains of more than 2%.

The three-month price recovered $235 per tonne from its previous closing level after significant declines earlier this week - the metal is looking to push back up to $14,000 per tonne. “Rising premiums signal demand remains robust, while the limited nature of the recent corrections supports our view that nickel is forming a higher price base, underpinned by the gradual tightening of the underlying fundamentals,” Metal Bulletin analyst James Moore said. “Nearby spreads have eased recently, suggesting an element of fresh buying has fuelled...


Alice Mason

February 21, 2018

17:40 GMT