LIVE FUTURES REPORT 28/01: Nickel, lead drop 1.6%; LME strains on high dollar index

Lead and nickel led the declines on the London Metal Exchange on January 28 morning, while most metals in the complex dropped around 1% of their futures prices due to the pressure from a rising dollar index and strained stock markets.

LME nickel’s three-month price dropped by 1.6%  to $17,635 per tonne on Thursday morning, its lowest since the start of the year. The metal entered its fifth day of decline, after falling by 0.8% to $17,916 per tonne on Wednesday from $18,057 per tonne at Tuesday's close. This is the first time nickel has dipped below $18,000 per tonne since January 14, falling over 3% since the start of this week.  LME lead’s three-month price also fell by 1.6% to $2,013 per tonne from Wednesday’s close at $2,045 per tonne.  The metal’s LME stock levels continue to fall, however, showing sturdy demand for lead amid the battery-kill season due to the winter months...

Published

Ana de Liz

January 28, 2021

10:28 GMT

London