LIVE FUTURES REPORT 24/06: LME prices edge up; only copper closes lower

All base metals prices on the London Metal Exchange, except for copper, finished slightly higher on Thursday June 24, with the recovery continuing after last week’s decline while the US Dollar Index consolidated on low ground to lend support to the complex.

Nickel led the way on the LME, rising by 1.9% at the close of trading on Thursday to $18,407 per tonne, up from its Wednesday closing price of $18,045 per tonne. On Monday, the stainless steel additive was $17,450 per tonne, meaning it was up by 5.6% so far this week, making up for last week’s 7.2% loss. Meanwhile, the nickel cash-to-three-month spread flipped into a $13.50-per-tonne backwardation on Thursday, from a $6.50-per-tonne contango on Wednesday at the close,...

Published

Ana de Liz

June 24, 2021

17:18 GMT

London