LIVE FUTURES REPORT 13/01: LME nickel price pushes higher amid fresh cancelation; Al weak despite outflows

The three-month nickel price on the London Metal Exchange improved during morning trading on Monday January 13, with upward momentum supported by a fresh cancelation of some 4,434 tonnes, while continued outflows did little to move a steady aluminium price.

Nickel’s outright price on the LME was recently seen up by 0.5% at $14,295 per tonne, while trading volumes topped the complex over the morning with more than 3,100 lots exchanged as of 9:15am London time. This morning’s fresh cancelations in nickel were booked primarily out of LME-registered warehouses in Asia, but were met by an inflow of just under 3,000 tonnes into mostly European warehouses. Total inflows for LME nickel in January now exceed 20,000...

Published

Hassan Butt

January 13, 2020

10:31 GMT

London