Nickel's price, together with the bulk of the London Metal Exchange complex, consolidated on Thursday morning from highs hit on Wednesday, while the start of the Lunar New Year holiday has been felt in the total number of volumes traded on the LME.
The three-month nickel price was at $18,600 per tonne at 9am on Thursday, on low volumes of just over 600 lots traded.The metal's price had reached $18,695 per tonne just before the 5pm close on Wednesday, a 1.8% jump on its Tuesday closing price of $18,370 per tonne. The upsurge continued into evening trading when the three-month price reached a new year-to-date high of $18,720 per tonne, the most since September 2, 2019.Meanwhile, the three-month copper price eased to $8,275 per tonne on Thursday morning and the absence of Asian trading was...