The three-month nickel price on the London Metal Exchange improved during morning trading on Monday January 13, with upward momentum supported by a fresh cancelation of some 4,434 tonnes, while continued outflows did little to move a steady aluminium price.
Nickel's outright price on the LME was recently seen up by 0.5% at $14,295 per tonne, while trading volumes topped the complex over the morning with more than 3,100 lots exchanged as of 9:15am London time. This morning's fresh cancelations in nickel were booked primarily out of LME-registered warehouses in Asia, but were met by an inflow of just under 3,000 tonnes into mostly European warehouses. Total inflows for LME nickel in January now exceed 20,000...