LIVE FUTURES REPORT 31/03: LME nickel price ends March 14% lower at $16,068/t; tin closes 8% higher

The London Metal Exchange nickel price posted the biggest monthly loss in March, with a fall of 14% as of Wednesday March 31, while tin was up by 8% since the start of the month and 20.6% in the year to date amid increased demand and tightening global supply.

"March has been characterized by diminishing risk appetite across stock, financial and commodity markets," LME Desk analyst at Marex Spectron Alastair Munro said in a morning note.
"In our metals world, declining volumes and open interests coupled with price action [are] also strongly suggestive of basket type long liquidation. It being quarter end, it would be a brave man to bet against that being there for tonight's quarter end," he added.
For copper, for example, volumes have decreased to a daily average of 15,170 lots traded during March, from a February daily average of 19,073 lots traded.

Meanwhile, the red metal's price was down 2.7% over March, with a Wednesday closing price of $8,785.50 per tonne,...

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