The three-month price of nickel on the London Metal Exchange remained elevated at the close of trading on Friday August 16, retaining gains made at Thursday's close above the $16,000 per tonne support level, while a weak LME tin price could see the two prices converge.
Nickel's three-month price closed trading at $16,200 per tonne, holding at a five-year high achieved on Thursday, while tin futures closed at $16,575 per tonne, with just $275 per tonne between the metals' prices.Despite strong buying momentum in nickel this week, turnover was light over the day, with little more than 6,800 lots traded by the close. Tin volumes were slightly elevated, with more than 300 lots exchanged over the day, its...