LIVE FUTURES REPORT 24/06: LME base metals subdued in low-volume trading; copper C/3M softens to $8.50/t contango

Three-month base metals prices on the LME were mostly lower at the close of trading on Wednesday June 24, with thin turnover a key sign that investor sentiment remains fragile.

Nickel’s outright price on the London Metal Exchange was worse off this afternoon, falling by 1.26% to close at $12,547 per tonne, its lowest closing price since May 29, while turnover was at just 3,931 lots by the close, the lowest level since May 13.  LME nickel’s forward curve also narrowed over the afternoon, with its benchmark cash/three-month spread recently trading in a $54.50-per-tonne contango, from a $60-per-tonne contango...


Hassan Butt

June 24, 2020

18:11 GMT