LME base metals prices inch higher; nickel touches one-month high

Base metals prices on the London Metal Exchange were all higher in morning trading on Wednesday November 24 following the release of good economic data on Tuesday from the European Union and the United States

Nickel continued its bullish trend with its three-month price reaching $20,805 per tonne, up 2% from Tuesday’s close of $20,399 and it highest price since October 21. Stocks of the metal in LME warehouses declined further, with a 2,808-tonne cancellation taking on-warrant nickel inventories 65,922 tonnes, its lowest since September 2019. The largest share of freshly canceled material was in Liverpool. “There appears to be a shift in thought as to the prices and where they might be going...

Published

Ana de Liz

November 24, 2021

10:15 GMT

London