MARKET TALK: LME Copper Momentum Spills Into Nickel, Zinc

The three-month nickel contract, like zinc and lead, is following copper sentiment, which for now remains positive, says a broker. LME nickel is trading in extremely thin volumes, he adds. "It's ridiculous really, up $1,000/ton overnight on 40 lots," he says. "It's not trading as a market as such, it's lurching from one level to another," he says. LME three-month nickel is trading at $47,850/ton, up 2% on the day. Zinc is up almost 2% at $3,585/ton, and lead has risen 1.5%, trading last at $2,000/ton. Tin is up 0.7% at $14,250/ton, aluminum is 0.5% higher, at $2,883.50/ton, and copper is up 1% at $7,910/ton.