LIVE FUTURES REPORT 28/01: LME nickel climbs 0.2% in dip-buying; copper holds at $5,700/t

The London Metal Exchange three-month nickel price was slightly higher during morning trading on Tuesday January 28, with dip-buying momentum prompting a marginal uptick, while copper futures failed to gather momentum.

Nickel’s outright price on the LME was recently at $12,710 per tonne - above Monday’s closing price of $12,610 per tonne - with some 1,200 lots exchanged as of 9:20am London time.  Price action in nickel shed more than 3% at Monday’s close, while risk-off sentiment remains a key factor across the entire complex, with many Asian markets closed due to the Lunar New Year holiday.  In addition, the outbreak of the coronavirus in Wuhan, China has kept investors cautious over concerns of its impact on the world’s second largest economy.  Yet with the majority of...

Published

Hassan Butt

January 28, 2020

10:28 GMT

London