Nickel closed around 2% higher on the London Metal Exchange on Wednesday July 10 after peaking at intraday high above $13,000 per tonne, its highest since April.
The three-month price bottomed out at $12,710 per tonne before it reversed higher, breaking past key resistance levels to breach $13,000 per tonne. It closed just short of the mark at $12,990 per tonne. More than 10,000 lots of nickel changed hands by the close. LME nickel stocks continue to dwindle - at 153,612 tonnes, there are at their lowest since 2013.The three-month zinc price also gained, closing just...