LIVE FUTURES REPORT 20/08: LME nickel holds below $16k/t; Al nears $1,800/t

The three-month nickel price on the London Metal Exchange declined during morning trading on Tuesday August 20, holding below $16,000 per tonne while aluminium futures moved higher.

Recently trading around $15,800 per tonne, nickel’s price action dipped by some 2% at Monday’s close to settle at $15,920 per tonne. Volumes traded over the morning were thin, with some 1,100 lots of nickel changing hands as of 9:05am London time.  Despite strong selling and fresh inflows on Monday, nickel’s forward spreads have shown no sign of easing. Its benchmark cash/three-month spread continues to trade in a $23-per-tonne backwardation, while the nearby cash/October spread...

Published

Hassan Butt

August 20, 2019

10:15 GMT

London