LIVE FUTURES REPORT 12/08: LME nickel sinks 1.1%; zinc falters after 15kt inflow

The London Metal Exchange three-month nickel price made the biggest downward move during morning trading on Wednesday August 12, with selling pressure emerging overnight and in Asian trading sessions, while a fresh inflow of 15,225 tonnes pushed LME zinc lower.

LME nickel’s outright price was recently at $14,160 per tonne, falling by more than 1.1% from Tuesday’s closing price of $14,350 per tonne, while turnover was moderate at just over 3,800 lots as of 10:15am London time. Yet fresh selling in LME nickel comes despite a gradual widening in the metal’s forward curve, with nickel's benchmark cash/three-month spread recently trading in a $52.50-per-tonne contango. “Copper hit a low of $6,275 per tonne on the opening and has now moved back up to $6,360...

Published

Hassan Butt

August 12, 2020

11:06 GMT

London