LIVE FUTURES REPORT 18/07: Price rally pushes LME nickel near $15,000/t; lead holds gains

Nickel’s three-month price on the London Metal Exchange increased during morning trading on Thursday July 18, with its price action continuing to ascend amid a continued drawdown of LME stocks.

Reaching an intra-morning high of $14,910 per tonne, nickel futures are now making a significant approach toward $15,000 per tonne, a level it has not surpassed since June 2018. Turnover in nickel remained high in the morning session, leading the complex with more than 7,000 lots exchanged as of 9:00am London time, while copper’s 2,000 lots follows second.  “It is very unusual for one metal to break away from the rest of the metals without a fundamental reason,” Kingdom Futures director and chief executive Malcolm Freeman said in a morning report.  “So...

Published

Hassan Butt

July 18, 2019

10:30 GMT

London