LIVE FUTURES REPORT 03/09: Upbeat US PMI figures fail to halt slide in LME base metals; nickel down 4%

September 04, 2020 / www.metalbulletin.com / Article Link

Three-month prices for base metals on the London Metal Exchange were mostly lower at the close of trading on Thursday September 3, with positive unemployment data and services data from the United States doing little to stop an equities-led decline across the complex.

A 4% downturn in LME nickel futures led that decline, and nickel's outright price on the LME was the laggard over Thursday afternoon, closing at $15,095 per tonne after falling from an intraday high of $15,810 per tonne. Turnover was high in nickel over the day, with more than 12,000 lots exchanged by the close."The sharp price correction [on Thursday] supports our view that prices are likely to become more mixed in the short term," Fastmarkets analyst James Moore said in his Nickel...

Recent News

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com

Gold stocks down on flat metal price and mixed equities

July 01, 2024 / www.canadianminingreport.com

Snowline Gold reports Initial Resource Estimate

June 24, 2024 / www.canadianminingreport.com

Inflation subsiding and rate cuts starting internationally

June 24, 2024 / www.canadianminingreport.com

Inflation rebound continues to reverse

June 17, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok