The three-month nickel price was the worst-performing LME base metal at the close of trading on Wednesday June 17, with a 1.3% downturn, while a steady climb in zinc futures saw it overcome nearby resistance.
Nickel's outright price on the London Metal Exchange closed at $12,871 per tonne on Wednesday afternoon, with selling pressure seeing it fall from an intraday high of $13,045 per tonne, while turnover was moderately low with just over 4,600 lots exchanged by the close. Open interest in LME nickel has also trended lower this week, declining by some 3,075 positions overnight to a total of 271,461 open positions - a...