Nickel goes back to back

Nickel goes back to back

NICKEL was the star performer for the second commodity trading session in a row, briefly moving up 6% to more than US$13,000 per tonne after only yesterday passing $12,000t.

• Michael Quinn
• 02 Nov 2017
• 6:20

he metal eventually closed up 4% at $12,785/t, having been less than $9000/t only four months ago.

Expectations about electric vehicles and the use of nickel sulphate in batteries are fuelling the rally.

Elsewhere lead and copper and zinc all enjoyed a good session, while bullion remained range-bound in the $1270-1280 per ounce region.

A poll by Macquarie at the start of the LME get-together in London this week saw copper considered to have the best outlook, with zinc favoured short.

	Commodity	Current (USD)	Change	%	Previous
1	LME Indicative
2	Copper - Cash	6898.75	82	1.2	6816.75
3	Copper - 3Mth[/B]	6930	91	1.33	6839
4	Lead - Cash	2473.5	71	2.96	2402.5
5	Lead - 3Mth	2482	68	2.82	2414
6	Zinc - Cash	3325.5	3.5	0.11	3322
7	Zinc - 3Mth	3277	12	0.37	3265
8	Nickel - Cash	12758	501.5	4.09	12256.5
9	Nickel - 3Mth[/B]	12785	490	3.99	12295
10	Tin - Cash	19535	30	0.15	19505
11	Tin - 3Mth	19400	25	0.13	19375
12	Aluminium - Cash	2168	26.25	1.23	2141.75
13	Aluminium - 3Mth	2185	25	1.16	2160

...............................................................................................................................................................................................