London Metal Exchange three-month base metals prices remained broadly unchanged - amid an upbeat sentiment on Monday November 23 - from the previous Friday's session, when most prices rallied on account of momentum-based trading.
Nickel's three-month price hit $16,200 per tonne as of 9:20am on Monday, a 0.3% increase from Friday closing price of $16,151 per tonne. AstraZeneca's announcement that its Oxford-AstraZeneca vaccine is 70.4% effective, with tests on two dose regimens showing that it could be up to 90% effective - an efficacy close to that of Pfizer and Moderna - seemed to support the complex this morning. On Friday, nickel's price increased by 2% from its Thursday close price to reach $16,151 per tonne, the metal's highest price since November 2019. Nickel's price followed the trend of other metals on Friday such as...