LIVE FUTURES REPORT 12/11: LME nickel price shows slight uptick on high turnover; lead falls 1.5%

The three-month nickel price on the London Metal Exchange improved at the close of trading on Tuesday November 12, climbing by around 0.5% on high turnover, while the rest of the base metals complex struggled to close in positive territory.

Nickel futures settled at $15,660 per tonne at the 5pm close on Tuesday, improving from an intraday low of $15,385 per tonne. Turnover was high, with just under 9,000 lots exchanged by the close. While forward spreads in the metal narrowed over the morning, tightness across the forward curve returned during the afternoon, with nickel’s benchmark cash/three-month spread recently trading in a $6 per tonne backwardation, from a $1 per tonne...

Published

Hassan Butt

November 12, 2019

18:05 GMT

London