LME nickel price stays above $20,000, zinc rises over 3%

Expectations of tightness led to a ramping-up of London Metal Exchange prices at the close of trading on Monday November 22, spurred by zinc and nickel.

Nickel’s three-month price closed above the psychologically key price of $20,000 per tonne for the second day in a row, up to $20,336 per tonne on Monday at 5pm, a $292 per tonne increase from last Friday’s price at the same time.

Dwindling stocks and high demand continued to create a bullish narrative for the stainless steel ingredient, with LME on-warrant stocks at 68,598 tonnes on Monday, the lowest since December 2019, after a 2,220-tonne outflow of material.

Stocks at the Shanghai Futures Exchange...


Ana de Liz

November 22, 2021

18:52 GMT