The London Metal Exchange three-month nickel price was the standout performer during morning trading on Tuesday June 2, climbing by 1.4% and continuing the buying momentum that emerged on Monday, while declining LME tin stocks support the price.
The nickel price was recently at $12,770 per tonne, up 1,4% against Monday's closing price of $12,626 per tonne. Trading volumes have been moderate so far this morning at just over 2,000 lots exchanged as of 9:45am London time. Supporting turnover is the wide forward curve; the benchmark cash/three-month spread was recently trading in a $68.50 per tonne contango - the widest contango across the base...