LIVE FUTURES REPORT 11/03: LME nickel sinks 2% in poor trade; lead closes below $1,800/t

The London Metal Exchange three-month nickel price declined at the close of trading on Wednesday March 11, weakening against continued risk-aversion, while lead futures failed to hold above $1,800 per tonne.

Nickel’s outright price on the LME closed at $12,420 per tonne this afternoon, falling from an intraday high of $12,905 per tonne, while turnover was high with more than 9,500 lots exchanged by the close.  Broad risk-aversion across the commodity assets remains in place, despite the recovery in the base metals complex on Tuesday, with macroeconomic uncertainty over novel coronavirus (2019-nCoV) keeping investors cautious.  Turnover in other metals was robust, with copper’s daily trading volumes exceeding 17,000 lots, while aluminium futures led...

Published

Hassan Butt

March 11, 2020

18:05 GMT

London