LIVE FUTURES REPORT 14/01: LME nickel price rallies 3% on Biden stimulus speech expectations

The London Metal Exchange three-month nickel price rallied over 3% in the second half of the day on Thursday January 14 on building expectations for President-elect Joe Biden to announce a $1.5 trillion deal stimulus package for the United States.

The nickel price rose to $18,281 per tonne at 5pm, the metal’s highest closing price of the year so far and a rise of 3.4% from Wednesday’s 5pm price of $17,678 per tonne. This is the second time this year the metal has closed above the $18,000 per tonne, the first being on January 7 when it rose to $18,109 per tonne. It had been closing mostly below $17,700 per tonne since then. Copper, meanwhile, was 0.5 % higher at $8,048.50 per tonne from Wednesday’s 5pm close of $8,009 per tonne. The red metal crossed over the $8,000 mark at the close for the first time...

Published

Ana de Liz

January 14, 2021

17:49 GMT

London