LIVE FUTURES REPORT 15/04: LME base metals prices rangebound in low-volume trading

Movements in base metals prices on the London Metal Exchange were mixed at the close of trading on Monday April 15, with continued weakness in the US dollar index doing little to spur buying activity while low volumes continued to indicate risk-aversion.

The three-month nickel price fell to its lowest level since March 28 in the afternoon, dipping to $12,860 per tonne before closing at $12,991 per tonne. Total LME stocks remained at their lowest level in seven years at just under 178,000 tonnes. Price activity has been volatile so far in April, with the metal trading either side of its nearby $13,000 per tonne support level. “The total LME nickel stocks level continues to fall, with another 1,158 tonnes removed this morning,” Fastmarkets analyst Andy Farida said in his Nickel Today...

Published

Hassan Butt

April 15, 2019

18:22 GMT

London