Nickel's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Wednesday July 17, appreciating by 3% to surpass $14,400 per tonne and trade at its highest level in a year.
The metal's futures price traded at an intraday low of $13,900 per tonne during Asian trading hours, before climbing to an intraday high of $14,460 per tonne during the European trading day. Total nickel volumes traded on the exchange this afternoon reached 14,800 lots by the close, following Tuesday's high of more than 18,000 lots traded - the highest volume since April 2018, when sanction hysteria surrounding Russian nickel producers caused a flurry of buying activity. "The volumes of...