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Metals: The nickel price in Shanghai reaches the highest level in three weeks

22/02/2024
Source : ORISHAS FINANCE
Categories: Raw materials

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Ce jeudi, les prix Nickel prices in Shanghai jumped by more than 2% to reach their highest level in three weeks. Traders assessing concerns about global supply with speculation of new US sanctions against Russia

.

At 03:12 GMT, the most traded March nickel contract on the Shanghai Futures Exchange was up 2.6% to 130,570 yuan (18,152.37 dollars) per metric ton, reaching its highest levels since January 29. According to US President Joe Biden, Washington planned to unveil a set of major sanctions against Moscow on Friday. These sanctions could concern metals, which are an important source of income for the country. Nickel at three months on the London Metal Exchange fell 0.3% to $16,885 per ton, after rising 3.6% in the previous session and posting the biggest daily gain since

last November.

When it comes to other precious metals, SHFE aluminum fell 0.6% to 18,780 yuan per ton, while copper was up 0.4% to 69,050 yuan, tin fell 0.3% to 69,050 yuan, tin fell 0.3% to 217,840 yuan, tin fell 0.3% to 217,840 yuan, zinc gained 0.2% to 20,385 yuan, while lead rose 0.3% to 69,050 yuan, tin fell 0.3% to 217,840 yuan, zinc gained 0.2% to 20,385 yuan, while lead increased by 0.3%% to 15,875 yuan. For its part, LME aluminum slid 0.2% to $2,216, after reaching a three-week high in the previous session, copper was stable at $8,542, zinc was stable at $2,394, lead did not budge by 0.8% to $2,078, and tin rose 0.3% to $26,370

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