New Week New Limit Down On LME, Benchmark Nickel Price Down 15%: CNBC

  • Nickel prices continued their decline on Monday, with the benchmark three-month contract falling 15% to hit another new trading limit, reported CNBC.
  • The price hit $31,380 a metric ton as it opened for trade on the London Metal Exchange, the report cited Refinitiv data. On Friday, the price had hit $36,915 a metric ton.
  • RelatedNickel Hits Limit Down Again On London Metal Exchange, Falls 12%: CNBC.
  • The London Metal Exchange's unusual couple of weeks of nickel trading continued with price surges, technical glitches, and trading suspensions with no relief in sight.
  • Reuters reported Friday that volumes were low and few buyers were willing to pay the LME price, above that on the Shanghai Futures Exchange.
  • Also ReadJPMorgan In Talks With Tsingshan To Contain Nickel Crisis: WSJ
  • Photo via Wikimedia Commons
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