LIVE FUTURES REPORT 11/12: Fresh 13.5kt inflow fails to stifle LME nickel price; copper holds ground

The three-month nickel price on the London Metal Exchange was little changed during morning trading on Wednesday December 11 despite another sizeable inflow of material into LME-registered warehouses, keeping forward spreads wide.

The LME nickel price was recently at $13,440 per tonne, $35 per tonne higher than Tuesday’s closing price. Turnover was high at more than 2,600 lots exchanged over the morning period.

This morning’s fresh inflows totaled some 13,572 tonnes, with 6,696 tonnes delivered into Dubai sheds, while the rest was split across warehouses in Europe, Asia and North America.

Total LME nickel inflows this week now total 28,314 tonnes, with Tuesday’s 14,742 tonne inflow the largest since January 2016.



Hassan Butt

December 11, 2019

09:58 GMT