Nickel's three-month price on the London Metal Exchange fell the most on the morning of Tuesday July 27, while most futures contracts had a bump during early trading but had all fallen by 9am.
The stainless steel additive was down by 2% to $19,310 per tonne at 9am on Tuesday, from Monday's closing price of $19,717 per tonne. Earlier on Tuesday, the metal reached a five-month high of $19,795 per tonne, setting its sights on the year-to-date high of $20,110 per tonne from February. "The stainless-steel ingredient has risen more than 7% in July on firm stainless steel demand and falling inventories in LME sheds," Marex' LME Desk analyst Anna Stablum said on Tuesday morning. There was an...