LIVE FUTURES REPORT 13/03: LME nickel price consolidates prior gains; lead stocks rise by 25kt in week

The London Metal Exchange three-month nickel price retreated by $140 on Wednesday March 13 to open at $12,975 per tonne, making it the biggest lower among the base metals.

Meanwhile, aluminium is the best performer, rising by 0.93% to open at $1,894.50 per tonne. The price is well supported by the contango in the cash/three-month spread of $24 per tonne, which lends positive sentiment for the price outlook. The aluminium price closed at $1,873 per tonne on Tuesday. The lead price rose moderately by $13 to $2,098 per tonne in morning trading although its on-warrant stocks have gone up by a sizable 24,975 tonnes since last Friday. “Despite the sizable re-warranting and fresh inflows into LME-approved sheds, the pullback in the LME lead price is...

Published

Julian Luk

March 13, 2019

11:11 GMT

London