LIVE FUTURES REPORT 11/07: LME nickel price continues uptrend above $13,000/t; tin falls below support line

Nickel’s three-month price on the London Metal Exchange was higher during morning trading on Thursday July 11, building on Wednesday’s gains above the $13,000-per-tonne threshold amid a continued drawdown on LME stocks.

The metal’s futures price reached an intra-morning high of $13,140 per tonne, with some 2,700 lots of nickel exchanged as of 8:55am London time. Total LME inventories continue to slide and remain at their lowest level since 2013 at 153,420 tonnes, while LME data continues to show three respective dominant positions across 50-79% of nickel’s warrant holdings, tomorrow/next-day and cash positions. “Nickel had a strong move through the $13,000 per...

Published

Hassan Butt

July 11, 2019

10:05 GMT

London