The London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal's forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains.
Volumes traded in nickel over the afternoon were moderate at 8,600 lots, while average daily turnover returned to the August average of below 10,000 lots. More than 17,000 lots of nickel traded on Tuesday September 3, the highest since August 8. Continued buying momentum in nickel remains a common feature of the metal's three-month price action throughout September, and despite falling by some 5.7% since Tuesday, nickel's closing price of $17,685 per tonne this afternoon is an increase of 1.1% on Thursday's close....