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...