LIVE FUTURES 28/09: Nickel down 2%, other LME prices subdued

The three-month nickel contract on the London Metal Exchange had the biggest fall on the morning of Tuesday September 28, while most other base metals moved slightly from their closing prices on Monday.

Nickel was at $18,550 per tonne at 9am on Tuesday, compared with $18,946 per tonne at 5pm on Monday. Tuesday’s morning intraday low of $18,450 per tonne is the lowest since September 21. Compared with the start of the month, the stainless steel raw material is down by 4%, having had a closing price of $19,332 per tonne on September 1. Its cash/three-month spread has been mostly in a backwardation since the final week of August. On Tuesday morning, the spread was in an $8-per-tonne backwardation. Nickel, like most base metals, has been affected by...


Ana de Liz

September 28, 2021

09:47 GMT