The three-month nickel price on the London Metal Exchange continued its downtrend during morning trading on Tuesday November 19, with price action coming under downward pressure from fresh inflows.
Nickel's outright price was recently at $14,575 per tonne, while just over 2,000 lots were exchanged as of 9:15am London time. The metal's underlying price has been falling since reaching a 2019-high of $18,850 per tonne on September 2. There were fresh inflows of just over 1,400 tonnes this morning, comprising both bagged briquettes and full-plates, which entered LME-registered warehouses in Johor, Singapore and Rotterdam. LME on-warrant nickel stocks now sit at 43,110 tonnes - an increase...