LIVE FUTURES REPORT 12/05: LME nickel trails in 1.2% downturn; 13kt outflow fails to buoy copper

May 13, 2020 / www.metalbulletin.com / Article Link

The London Metal Exchange three-month nickel price was lower during morning trading on Tuesday May 12, with selling pressure mounting across Asian trading hours, while fresh outflows did little to bolster a weaker LME copper price.

LME nickel's outright price was recently at $12,255 per tonne, slipping by more than 1.2% from Monday's closing price of $12,354 per tonne, while turnover was minimal at just over 1,400 lots as of 9:45am London time. 
Downward price action for nickel comes amid news that the Shanghai Futures Exchange will now accept the delivery of nickel briquettes from mid-October, in an effort to support the burgeoning electric vehicle (EV) market, while some market participants believe the move could eliminate some price risk as well. 

LME nickel stocks...

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