LIVE FUTURES REPORT 06/12: LME base metals prices weakened by dollar strength; nickel drifts below $11,000/t

Base metals prices on the London Metal Exchange were lower across the board during morning trading on Thursday December 6, with downward pressure across the complex stimulated by broad strength in the dollar index, which continues to trade in positive territory after last week’s G20 summit.

The three-month nickel price has fallen 1.6% and is now back below $11,000 per tonne after trading above the mark so far in December. Similarly, copper futures are now trading below $6,100 per tonne and down 1.5% despite total LME stock levels now at their lowest since 2008. Volumes traded on the exchange have been high so far this morning, with 9,431 lots changing hands as of 10:52am London time. Elsewhere, both three-month zinc and lead prices consolidated lower over the morning, while total LME stocks in both metals are also at their lowest in over nine years. For zinc, depleting stock levels continue to prompt further tightness in the...

Published

Hassan Butt

December 06, 2018

11:34 GMT

London