LIVE FUTURES REPORT 09/11: Covid-19 vaccine news pushes LME nickel price up 2.4%

The three-month nickel price on the London Metal Exchange remained the standout performer at the close of trading on Monday November 9, while a steady incline in the US dollar index resulted in declines in LME copper and aluminium over the afternoon.

The price of nickel rose by more than 2%, reacting positively to news of a prospective vaccine against Covid-19 and the election of Joe Biden to the US presidency. Nickel’s outright price on the LME closed at $15,754 per tonne on Monday afternoon, settling more than 2% higher than Friday’s closing price of $15,362 per tonne. But it failed to close near the intraday high of $15,960 per tonne, while turnover was high at more than 11,500 lots exchanged by the 5pm close. News of progress in work on pharmaceutical company Pfizer’s potential Covid-19...


Hassan Butt

November 09, 2020

18:25 GMT