LIVE FUTURES REPORT 16/07: LME nickel passes $14,000/t in 2.9% rally

The London Metal Exchange three-month nickel price rose 2.9% on Tuesday July 16 to close above the $14,000-per-tonne resistance level.

The LME three-month nickel contract closed at $14,065 per tonne, up $400 per tonne from the $13,665-per-tonne close on Monday. This is the first time nickel futures have surpassed the $14,000 mark since August 2018, with approximately 15,000 lots traded by 5pm on July 16. But market participants remain divided on whether or not nickel’s upward price trajectory correlates with the physical market, with reports suggesting...

Published

Amy Hinton

July 16, 2019

18:15 GMT

London