LIVE FUTURES REPORT 30/09: Nickel drops to three-month low on LME, Al only price higher than Sept 1

Nickel's three-month price was at its lowest since late June on the afternoon of September 30; all other London Metal Exchange prices were down across the board by 2-4%.

"Commodities are being pressured by a surge in the dollar, coupled with supply chain pressures that are having a growing impact on demand, particularly out of China where power has become the latest bottleneck," ED&F Man's head of commodities research Edward Mair said on Thursday. 
The US Dollar index was at a one-year high on Thursday of 92.51, while Chinese power cuts are set to hinder demand across industries, including steel and copper.

Nickel's three-month price slumped to prices not reported since June 22, with an intraday low...


Ana de Liz

September 30, 2021

17:10 GMT