Three-month base metals prices on the London Metal Exchange were broadly lower during morning trading on Friday August 9, with turnover predominantly low across the complex while continued buying momentum in lead this week tightened nearby spreads.
Despite a 0.4% downturn this morning, the three-month nickel price held onto gains made earlier in the week, coming down from a 16-month high of $16,690 per tonne on Thursday to trade at $15,750 per tonne.
Volumes traded were low over the morning, with nickel exchanging under 2,000 lots as of 9:30am London time, second to copper's 2,300 lots traded.
Meanwhile, a fresh inflow of 2,142 tonnes of nickel entered LME-registered...