The three-month nickel price on the London Metal Exchange was higher during morning trading on Monday September 30, buoyed by continued outflows and fresh cancellations, keeping exchange stocks at their lowest level since 2011.
LME nickel's futures price was recently trading at around $17,375 per tonne, volumes traded were moderately high, with over 2,000 lots exchanged as of 9am London time. "With China shut tomorrow and option declarations on Wednesday, most will be hoping for a quiet start to the week," Kingdom Futures director and chief executive Malcolm Freeman said in a morning report. "But as we have seen recently the markets have a habit of making sudden and unpredictable moves when major participants are otherwise engaged."LME nickel stocks have maintained their downtrend throughout September, beginning the month at 152,604 tonnes,...