LIVE FUTURES REPORT 16/07: LME nickel price nears $14,000/t in 2% rally; Al ignores 56kt inflow

The London Metal Exchange three-month nickel price rallied by 2% during morning trading on Tuesday July 16, trading just below the $14,000 per tonne resistance level while the rest of the complex followed higher.

Nickel futures have not breached $14,000 per tonne since August 2018, while turnover has consistently surpassed 10,000 lots exchanged per day since July 10. The three-month price has reached an intraday high so far of $13,980 per tonne today. Volumes traded in nickel were high over the morning period, with more than 5,000 lots exchanged as of 9:50am London time. “There...

Published

Hassan Butt

July 16, 2019

10:25 GMT

London