Nickel reaches 20-month high on LME

By Barbara O’DonovanPublished: Mar 4 2010 4:34PM

Nickel prices reached fresh 20-month highs in Thursday trade on the London Metal Exchange amid fund buying and stock declines.

Three-month nickel closed second-ring trade at $22,950/$22,975 (bid/ask) per tonne after opening the day at $22,600 per tonne. The contract traded no lower than $22,355 and reached an intraday high of $23,040 per tonne. The second-ring close was up an average of 1.5 percent from $22,630/$22,635 per tonne on Wednesday.

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