Nickel and lead posted price increases of almost 2% in morning trading on the London Metal Exchange on Monday August 23, ahead of the Federal Reserve's Jackson Hole summit which starts on Thursday.
Three-month nickel traded at $18,805 per tonne at 9am, up from Friday's $18,463-per-tonne closing price. The metal lost 5.4% of its value last week, with the spread of the Delta variant of Covid-19 denting hopes of a robust economic growth in the second half of the year.Nickel's inventories were down by 816 tonnes to 197,298 tonnes - its lowest level since February 2020 - while a further...