LIVE FUTURES REPORT 19/08: LME nickel slips below $16k/t in 2% slide; lead leads gains

Nickel’s three-month price on the London Metal Exchange was lower at the close of trading on Monday August 19, dipping below the $16,000-per-tonne support level amid a broadly low turnover across the complex, while a steady uptick in lead lead gains over the afternoon.

Closing at $15,920 per tonne, nickel’s futures price failed to close above its nearby support level after breaching the mark last week, closing at a five-year high of $16,250 per tonne on August 15.  Yet nickel's price action came under downward pressure over the day’s trading, falling to an intraday low of $15,795 per tonne, largely due to the metal receiving some 4,500 tonnes into LME-registered warehouses this morning - its largest inflow since May 2018.  Total LME nickel stocks remain low however, totaling just 149,640 tonnes, at...


Hassan Butt

August 19, 2019

17:58 GMT