LIVE FUTURES REPORT 15/11: Selling pressure brings LME nickel price below $15,000/t; fresh 46kt inflow for Al

The three-month nickel price on the London Metal Exchange dropped below the nearby $15,000 per tonne support level during morning trading on Friday November 15, while there was another fresh inflow for aluminium.

The LME outright nickel price was recently at $14,965 per tonne, dipping below $15,000 per tonne for the first time since August 7. Turnover in nickel was moderate over the morning, with just under 2,400 lots exchanged as of 9:20am London time, behind aluminium’s 3,800 lots and copper’s 4,000 lots traded.

Selling pressure in nickel began after the metal’s underlying price peaked at a 2019-high of $18,100 per tonne on September 9. The price has since shed more than...

Published

Hassan Butt

November 15, 2019

10:43 GMT

London