The three-month price of nickel on the London Metal Exchange was higher at the close of trading on Monday August 24, outperforming its peers and closing a little more than 1% higher, while the entire base-metals complex was given a boost by a rally in global equity markets.
Nickel's outright price closed at $14,926 per tonne on Monday afternoon, its highest closing price since November 2019, and continuing to push toward key resistance at $15,000 per tonne. Turnover was moderate for nickel, however, at just over 5,300 lots exchanged by the 5pm close.Pushing the complex higher over the afternoon, global equity indices, particularly the Nasdaq and S&P 500, rallied to new all-time highs after news that US regulators have approved the use...