LIVE FUTURES REPORT 07/01: LME nickel nears $14k/t in steady uptick; zinc holds

The three-month nickel price on the London Metal Exchange increased during morning trading on Tuesday January 7, with price action ignoring continued inflows of registered material after another 2,136-tonne delivery this morning.

Nickel’s outright price was recently at $13,925 per tonne, climbing by just under 2% from its intra-morning low of $13,680 per tonne, while turnover in LME nickel was high with more than 2,000 lots exchanged as of 9am London time.  Total inflows of LME-registered nickel across January now exceed 10,000 tonnes, with this morning’s delivery sent to warehouses in both Singapore and Port Klang.  Forward spreads in nickel remain wide, with its benchmark cash/three-month spread recently in a contango of $73.50 per tonne - the widest contango across the...

Published

Hassan Butt

January 07, 2020

10:15 GMT

London