LIVE FUTURES REPORT 14/10: US producer price data pushes LME nickel price up 2%; lead below $1,800

The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.

Lead futures, however, struggled to close above nearby support levels. Nickel’s outright price on the LME closed at $15,341 per tonne on Wednesday afternoon, its highest closing price since November 2019. The price rose from an intraday low of $14,985 per tonne against just 6,100 lots exchanged by the close. In economic data released in the US in the afternoon, the country’s producer price index (PPI), which reflects the change in goods and services sold by producers, on a month-on-month basis...


Hassan Butt

October 14, 2020

17:45 GMT