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Relative to other LME metals, nickel has provided a wild ride for traders in the past two weeks. After trading resumed last week Wednesday, the 3M contract has closed limit-up or down in six of the past seven sessions. From last Wednesday to this week Monday, that contract had four consecutive limit-down closes. A brief reprieve occurred on Tuesday; however, the 3M contract still fell by about 10% that day. This was followed by two limit-up closes. Traders cited by Reuters believe that thin volume is causing the instability in nickel prices. Last trade on the LME Nickel 3M contract was $35,200/mt and is down 4.6% on the week (7AM CST). |
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The LME Aluminum 3M contract is currently up 6.4% on the week. LME Copper 3M is nearly unchanged on the week. Consumers who are concerned about their nickel or other LME metal input costs might consider purchasing swaps or call options. Please note that doing so might incur losses if prices decrease. Please contact AEGIS for specific strategies that fit your operations. (3/25/22) |
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Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here. |
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Price Indications |
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Today's Charts |
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AEGIS Insights |
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03/16/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 03/16/2022: Russian Metals Production and Related News: Most Recent Developments (AEGIS Reference) |
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| Important Headlines | ||
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3/24/2022: LME benchmark nickel jumps 15%, hits price limit in thin market 3/23/2022: U.S. not looking to renegotiate Trump-era steel quotas with South Korea, says Raimondo 3/23/2022: LME benchmark nickel spikes 15% to hit limit up 3/22/2022: METALS-Supply fears lift aluminium, nickel shows signs of normalising 3/22/2022: LME says it has no current plans to ban Russian metal from its system 3/20/2022: Australia bans alumina exports to Russia, sources coal for Ukraine 3/18/2022: LME’s copper industry group recommends banning Russian metal |
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| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
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