LIVE FUTURES REPORT 30/03: LME nickel falls below $16,000, aluminium down 1.5%

Nickel’s futures price on the London Metal Exchange decreased by 1.65% on Tuesday March 30, while copper and aluminium were also down, with a range of macroeconomic forces that have acted as headwinds over the past few weeks continuing to exert downward pressure on prices.

“In this regard, both the dollar and US ten-year rates seem to be on the move again, with the latter getting to 1.77% at one point in premarket trading - a 14-month high,” ED&F Man’s head of commodities research, Edward Meir, said. The US Dollar Index reached a new year-to-date peak during trading on Tuesday as well, at 93.36, its highest since November 5, when it was 93.55. Covid-19 vaccination efforts are well under way in Europe but the process is proving to be lengthy, and infection...

Published

Ana de Liz

March 30, 2021

17:05 GMT

London