Nickel nudges $11,000/t NICKEL was the best performer overnight...

Nickel nudges $11,000/t

NICKEL was the best performer overnight as gold rose over US$1290 an ounce.

• Kristie Batten
• 11 Aug 2017
• 6:40
• News

LME cash nickel added another 2% to US$10,938 per tonne, its fourth straight rise and highest price since early March.

Among the base metals, copper was down by 0.5% to $6393.75/t, after hitting a new 26-month high of$6451.50/t earlier this week.

Peter Thomas, a senior vice president with Chicago-based brokerage Zaner Group, told Bloomberg that copper was just taking a breather.

“We’ve had an enormous run-up on lower-than-expected production, good demand and the weakness in the dollar,” he said.

US stocks were sold down overnight and gold continued to strengthen due to concerns over rising tensions between the US and North Korea.

Comex gold for December delivery hit $1292.10 per ounce and was close to $1294/oz last night.

Australian gold was at A$1636.27/oz as the Aussie dollar weakened slightly.

The Metal Bulletin 62% iron ore price rose by 1.6% to US$76.68/t, a new four-month high.

Iron ore is now 44.6% up over the mid-June low of $53.16/t.

• LME Indicative
• Comex
• Nymex
• MB Iron Ore
• Energy
• Currencies
• Indices

	Commodity	Current (USD)	Change	%	Previous
1	LME Indicative
2	Copper - Cash	6393.75	-33	-0.51	6426.75
3	Copper - 3Mth[/B]	6423	-32	-0.5	6455
4	Lead - Cash	2345	16.25	0.7	2328.75
5	Lead - 3Mth	2366	16	0.68	2350
6	Zinc - Cash	2925.5	5.75	0.2	2919.75
7	Zinc - 3Mth	2938	6.5	0.22	2931.5
8	Nickel - Cash	10938	220.5	2.06	10717.5
9	Nickel - 3Mth[/B]	10985	225	2.09	10760
10	Tin - Cash	20398	103	0.51	20295
11	Tin - 3Mth	20325	120	0.59	20205
12	Aluminium - Cash	2032	13	0.64	2019
13	Aluminium - 3Mth	2037	9.5	0.47

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