Nickel traded in a range of more than $1,000 per tonne in Thursday’s trading on the London Metal Exchange, as the alloying metal rebounded after dropping as low as $25,050 per tonne earlier this week
Nickel traded in a range of more than $1,000 per tonne in Thursday’s trading on the London Metal Exchange, as the alloying metal rebounded after dropping as low as $25,050 per tonne earlier this week. Three-month nickel rose to an official price of $27,125/130 per tonne in the officials, up $600 from its open price of $26,500 per tonne. “The market took the view that there is further buying to be done. It closed on resistance and followed through in the morning. But I think it was a bit caught out with the breakout this morning,” a category I trader said. A broad market rally saw nickel break its fall and move back above its 100-day moving average on Wednesday, which...
