MT: Nickel leads base metals higher in LME pre-market
Most base metals prices rose in early trading on the London Metal Exchange on Friday even as the dollar firmed against the euro. Three-month nickel rose as high as $22,900 per tonne in early trading after opening at $22,650 per tonne. The contract dipped no lower than $22,600 per tonne after settling at $22,300/305 per tonne on Thursday. Prices took support from a net 726-tonne stock draw in bonded warehouses that saw total inventories fall to 157,752 tonnes. Material was delivered out of Rotterdam, indicating better demand from European stainless steel mills. “On nickel,...
