LIVE FUTURES REPORT 08/01: Fresh 4.6kt inflow tempers LME nickel price; Al dips despite outflows

The three-month nickel price on the London Metal Exchange was lower during morning trading on Wednesday January 8, with prices retreating below the $14,000-per-tonne threshold, while further outflows failed to support aluminium’s outright price.

Nickel’s underlying price on the LME was recently seen at $13,845 per tonne, easing from a morning high of $13,935 per tonne. Turnover in LME nickel was high at more than 2,100 lots exchanged as of 9am London time. Total inflows of LME-registered nickel for January now exceed 15,000 tonnes, with the bulk of this morning’s 4,686-tonne delivery sent into Singapore. Meanwhile, nickel’s benchmark cash/three-month spread has held in a contango of...

Published

Hassan Butt

January 08, 2020

10:24 GMT

London