LIVE FUTURES REPORT 21/01: LME nickel price dips 2.5% in afternoon downturn; copper weakens

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Tuesday January 21, settling at its lowest price since December 10 against moderate turnover, while a fresh inflow of some 40,000 tonnes pushed copper futures lower.

Nickel’s outright price on the LME closed at $13,665 per tonne in the afternoon, settling at its lowest level for more than a month, while the daily volume traded was moderate at some 6,624 lots exchanged by the close. Volatility has been a key feature of the LME nickel complex in recent months, with fresh inflows, fresh cancelations and strong price swings persisting into January. Nickel futures fell from an intraday high of $14,065 per tonne in the morning, settling close to the month-to-date low of $13,625 tonnes, while open interest in nickel has dropped by some 25,709 positions over January. This comes...


Hassan Butt

January 21, 2020

18:18 GMT