LIVE FUTURES REPORT 12/03: Nickel LME price loses 5% on rewarranting, macro shocks

The London Metal Exchange three-month price for nickel fell by more than 5% on Thursday March 12, a trading day that saw a 16,000-tonne rewarranting, with the price reaching a high of $12,495 per tonne then crashing to a low of $11,735 per tonne, before closing at $11,830 per tonne.

Almost 13,700 nickel lots were traded over the day, which was marked by the rare rewarranting of more than 16,000 tonnes of stock in LME warehouses. The benchmark three-month aluminium price also remained weak over Thursday, closing at $1,656 per tonne after seeing more than 20,000 lots in turnover over...

Published

Rijuta Dey Bera

March 12, 2020

18:08 GMT

New York