LIVE FUTURES REPORT 12/12: LME nickel price absorbs further inflows

The three-month nickel price on the London Metal Exchange consolidated during morning trading on Wednesday December 12, with another fresh inflow of 25,518 tonnes into several locations elevating a weak LME nickel stock count.

Nickel’s outright price on the LME was recently at $13,775 per tonne, a drop of just 0.4% from Wednesday’s closing price of $13,850 per tonne.

Turnover in nickel was high over the morning, with just over 4,000 lots exchanged as of 9:30am London time.

Of the sizeable inflows this morning, 7,668 tonnes entered LME-registered warehouses in Johor, a further 6,744 tonnes went to Rotterdam, 4,206 tonnes to Kaohsiung and 2,580 tonnes into Busan.

Total inflows of LME nickel this week now exceed 53,000 tonnes, with today’s delivery the largest single inflow of nickel in over three years.

The bulk of material delivered in are nickel briquette and bagged...

Published

Hassan Butt

December 12, 2019

11:03 GMT

London