--Nickel finished the week and the last trading day higher by around 0.75% at the LME taking positive cues from the comments of the Indonesian government’s official who said that the government has no plans to change the ore export ban rule.
--Developments in Indonesia have also led to narrowing contango between the LME Cash and 3M forward which declined from a high of $121 to $36.5 /MT which is a fall of nearly 70% over the last one month period.
--However, on the inventory front Nickel stocks continue to be high. As per the latest data LME stocks stands at around 268,980 MT which is yet another record high. We have a ranged view in Intra-day for the commodity as updates over Indonesia are being taken over by negativism over the inventory front.
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LME Nickel Positive Cues
Published 02/17/2014, 03:13 AM
Updated 05/14/2017, 06:45 AM
LME Nickel Positive Cues
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