Three-month nickel was the only contract to trade higher in the morning session on the London Metal Exchange on Monday July 19, with most other base metals, with the exception of copper, consolidating at elevated levels.
Nickel's three-month price rose to $19,155 per tonne in early trading, before easing slightly to $19,095 per tonne at 9am. The metal gained 2% throughout last week, finishing on Friday at its highest levels since February at $19,070 per tonne.The nickel market has been affected by supply worries, mainly out of Indonesia, where 54,000 new Covid-19 cases were recorded on Friday and doctors are calling for a lockdown extension. A decision is set to be made on this early this...