LIVE FUTURES REPORT 03/01: LME nickel price tumbles 3.3% in downtrend; tin follows lower

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.

Nickel’s underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn against some 7,841 lots exchanged over the day – the most since December 20. The price of nickel fell from an intraday high of $14,280 per tonne, prompted by a fresh inflow of 3,060 tonnes into LME-registered warehouses in Johor, Vlissingen and Singapore. Total on-warrant LME nickel stocks were now 129,222 tonnes, up from just 43,692 tonnes at the start of December 2019. Meanwhile, nickel’s benchmark...

Published

Hassan Butt

January 03, 2020

18:40 GMT

London