LIVE FUTURES REPORT 11/09: LME nickel price up 0.8%; backwardation attracts fresh inflows

The London Metal Exchange three-month nickel price climbed 0.8% in the morning session on Wednesday September 11, trading up around $18,150 per tonne from the previous day’s $17,950 per tonne close.

The three-month nickel contract is ignoring a 1,428-tonne fresh inflow of material into the LME warehouse network. A narrowing cash/three-month nickel spread, trading around $83 per tonne today, is attracting material back onto exchange. Just 666 tonnes of material flowed out of warehouses on the same date while 4,854 tonnes of material were freshly canceled....

Published

Amy Hinton

September 11, 2019

10:47 GMT

London