The three-month nickel contract was the biggest gainer on Tuesday January 12 with a 3% rise in a broad-based reversal of fortunes for base metals on the London Metals Exchange, due to expectations of further Covid-19 stimulus in the United States.
Nickel's three-month price bounced back by 3.4% on Tuesday at 5pm to $17,668 per tonne, coming back to levels seen at the end of the first week of January. The metal's closing price on Monday, of $17,086 per tonne, was a 3.3% decrease from its price last Friday of $17,667 per tonne. Meanwhile, copper's three-month price was $7,975.50 per tonne at the 5pm close on Tuesday, a 1.4% rise on Monday when it closed at $7,864 per tonne, a 3% slump on its price at the end...