LIVE FUTURES REPORT 22/02: Nickel beaches $21,100 then consolidates, copper, tin hold around new highs

The prices of both copper and tin showed gains at the close of trading on Monday February 22, but signs of fatigue have started to emerge for the bulls in charge of nickel, which was down by 0.5% on a day when the entire London Metal Exchange base-metals complex set new multi-year highs.

Copper closed up by 2.1%, at $9,097 per tonne, compared with Friday’s 5pm price of $8,909.50 per tonne, while tin’s three-month price was up by 1.5% to $26,615 per tonne. The red metal reached $9,269.50 per tonne during the day while tin rallied to $27,000 per tonne for the first time since mid-2011. Both metals’ backwardations continued to show the tightness in the market on Monday, with copper’s at $35.50 per tonne, the most since September, and tin’s at $2,440 per tonne, less acute than last week’s...


Ana de Liz

February 22, 2021

18:18 GMT