LIVE FUTURES REPORT 23/04: Bullish sentiment pushes LME nickel up 2%, copper at $9,550

Nickel's three-month price showed the biggest rise among base metals on the London Metal Exchange at the close of trading on Friday April 23, with most prices finishing the week on a positive note due to a low US Dollar Index and fund buying acitivty in the complex.

The price of nickel was up by 2% to $16,395 per tonne from Thursday's 5pm price of $16,063 per tonne, after trading sideways for most of the week, and dipping to $15,925 per tonne during early trading on Friday.
"I think nickel has been bought because all the other metals are being bought. But given that the whole complex has been lent a good hand by the dip in the dollar, against the euro especially, I don't expect the rise in nickel to last," one LME broker told Fastmarkets.

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