LIVE FUTURES REPORT 27/11: Positive US GDP figures fail to boost LME nickel price; copper maintains gains

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Wednesday November 27, falling by a little more than 1% on thin turnover, while strength in the US economy did little to boost risk-off sentiment toward the base metals complex.

Nickel’s underlying price on the LME closed at $14,380 per tonne on Wednesday afternoon, falling from an intraday high of $14,570 per tonne while turnover on the day was at its lowest since October 4, with just under 4,400 lots exchanged. Selling pressure emerged over the afternoon against continued uncertainty about US-China trade relations, with market participants remaining risk-averse. In addition, the United States’ latest preliminary GDP figures on a quarter on quarter basis for the third quarter were released in the afternoon, and...

Published

Hassan Butt

November 27, 2019

19:05 GMT

London