LME base metals prices bullish; nickel up 2%

Base metals prices on the London Metal Exchange were trading higher at the close on Wednesday November 24 due to bullish market sentiment.

“[There is] incredible strength in the base metals complex despite the new annual high in the dollar index. Base metals fundamentals are very bullish, with projections of larger supply deficit in 2022 amid pent up demand from infrastructure spending and post-covid economic recovery,” Fastmarkets analyst Andy Farida said.

“Headline inventories from all metals are near their annual low and persistent backwardation in spreads indicates a persistently...

Published

Alice Mason

November 24, 2021

18:12 GMT

London