The three-month nickel price on the London Metal Exchange climbed by more than 2% to breach nearby resistance levels during morning trading on Monday July 6, while a backwardation in LME copper's forward curve did little to stop its price incline amid fresh stock removals.
Nickel's outright price on the LME was recently seen at $13,250 per tonne, a rise of 2.1% against a morning low of $12,985 per tonne, while turnover was moderate at just over 4,000 lots exchanged as of 10am London time.Meanwhile, the Shanghai Futures Exchange has approved the delivery of nickel briquettes into registered locations from October, amid the country's push for electrification,...