LIVE FUTURES REPORT 10/10: LME nickel price climbs 1.9% amid continued stock drawdown

The three-month nickel price on the London Metal Exchange pushed up during morning trading on Thursday October 10, climbing by nearly 2% amid an ongoing drawdown of LME inventories.

Nickel’s outright price was recently trading at $17,620 per tonne, appreciating by around $285 per tonne with just over 1,800 lots exchanged as of 9:10am London time. LME nickel stocks now sit at 102,696 tonnes in total, the lowest level since 2008, and with 49,500 tonnes now on-warrant, around 52% of stocks remain canceled.  Yet, despite the strength of the LME nickel price against a backdrop of falling exchange inventories, some market participants are puzzled by the continued...

Published

Hassan Butt

October 10, 2019

10:48 GMT

London