The London Metal Exchange three-month nickel price hit a fresh 2018 low in morning trading on Friday November 23, with the rest of the complex following lower.
The three-month nickel price was at its lowest since the beginning of December this morning at $10,750 per tonne - down 32% from its year high of $15,845 per tonne on June 6.Nickel volume is the highest of the complex so far this morning with over 7,500 lots traded by 9:30am London time on account of participants taking advantage of bargain-hunting. "The war of words between China and America continues to escalate [ahead] of the G20 meeting... This has led the metals markets to come under further pressure with nickel being the hardest [hit]," Malcolm Freeman of Kingdom Futures said. The other base metals were also trading lower on weaker sentiment...