LIVE FUTURES REPORT 17/12: LME nickel price closes below $14,000/t after more stock inflows

The nickel price closed down more than 1.6% on the London Metal Exchange on Tuesday December 17, seemingly succumbing to inventory pressure.

The three-month price ended at $13,960 per tonne after stocks in LME-listed warehouses rose by another 6,090 tonnes. The contango in the benchmark cash/three-month spread widened to $61 per tonne this afternoon from $41.25 per tonne earlier today and $57 per tonne on Monday. A backwardation that has opened up in the three-month/March spread moved out as far as $5 per tonne before narrowing to a slim...


Amy Hinton

December 17, 2019

19:02 GMT