LIVE FUTURES REPORT 24/05: LME nickel price rockets 4% on short-covering; copper holds below $6,000/t

The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors seek to cover shorts ahead of the UK bank holiday next week.

Despite moderately low volumes over the day’s trading, more than 15,000 lots of nickel changed hands at a value of around $930 million, the most since August 2018.


Hassan Butt

May 24, 2019

17:50 GMT