LIVE FUTURES REPORT 06/12: LME nickel price holds on to gains on fresh cancellation; zinc recovers

The three-month nickel price on the London Metal Exchange continued the previous day’s momentum during morning trading on Friday December 6, bolstered by a fresh cancellation of 3,642 tonnes, while the zinc price rose slightly from Thursday’s close but remains broadly rangebound.

The LME three-month nickel price was recently at $13,425 per tonne, climbing more than 1% against Thursday’s closing price of $13,275 per tonne. Turnover topped the complex at just over 2,700 lots exchanged as of 9:15am London time. The main driver of the higher price was this morning’s freshly canceled material, booked entirely out of LME-registered warehouses in Rotterdam. Despite this, Rotterdam sheds continue...

Published

Hassan Butt

December 06, 2019

10:12 GMT

London