LIVE FUTURES REPORT 05/03: LME nickel price drops11.5% with most base metals down week on week

The prices of most base metals on the London Metal Exchange closed lower week-on-week on Friday March 5, coming off highs realized at the end of February.

The nickel three-months LME Daily Official price closed at $16,425 per tonne in Friday’s session and showed the steepest decline, down by 11.5% compared with the corresponding time last week.
Supply-side nickel issues helped to stoke bearish sentiment on the metal.
Earlier in the week, the price fell on the announcement by Norilsk Nickel that it would restart two mines affected by flooding.

In another announcement on Wednesday, by China’s Tsingshan Holding Group – the country’s largest steel producer – it said...

Published

Justin Yang

March 05, 2021

18:42 GMT

London