The three-month nickel price on the London Metal Exchange continued to fall during morning trading on Tuesday November 12, with dip-buying yet to emerge against broadly high turnover across the complex.
Nickel's outright price was recently at $15,410 per tonne, losing around 1% of Monday's closing price of $15,565 per tonne. Volumes traded in nickel were high over the morning, with some 4,300 lots exchanged as of 9am London time. Meanwhile, forward spreads in nickel tightened over the morning session. The metal's cash/three-month spread was recently in a $15 per tonne backwardation, narrowing from a $1 per tonne backwardation on Monday. "We...