Nickel at five-month high

Nickel at five-month high

NICKEL kept rising overnight in what was a relatively mixed session for commodities.

• Kristie Batten
• 04 Aug 2017
• 6:45
• News

LME cash nickel added another 0.3% to US$10,335 per tonne, its highest price since March 7.

It was the 10^th consecutive rise for nickel, which according to Bloombergmakes it the longest rally since April 2014.

Nickel went on to hit $20,995/t in June 2014, its best price in the past five years.

However, nickel is only up by 3.7% over 2017 so far, but up by close to 20% off its June low.

Zinc and aluminium were slightly weaker overnight, lead and tin were slightly higher and copper was flat.

Gold futures were at $1275 an ounce, while spot gold was at $1268.63/oz or A$1595/oz.

The Metal Bulletin 62% iron ore price was up by 0.9% to US$72.93/t after losses the two previous days.

On Wall Street, the Dow Jones Industrial Average was flat but still reached a new all-time high ahead of US jobs numbers tonight

	Commodity	Current (USD)	Change	%	Previous
1	LME Indicative
2	Copper - Cash	6325.75	3.5	0.06	6322.25
3	Copper - 3Mth[/B]	6352	0	0	6352
4	Lead - Cash	2345.25	16.75	0.72	2328.5
5	Lead - 3Mth	2367	14	0.59	2353
6	Zinc - Cash	2782.25	-6.25	-0.22	2788.5
7	Zinc - 3Mth	2792	-9.5	-0.34	2801.5
8	Nickel - Cash	10335	30.5	0.3	10304.5
9	Nickel - 3Mth[/B]	10380	30	0.29	10350
10	Tin - Cash	20770	35	0.17	20735
11	Tin - 3Mth	20650	60	0.29	20590
12	Aluminium - Cash	1894.25	-8.5	-0.45	1902.75
13	Aluminium - 3Mth	1916	-10	-0.52	1926