Nickel prices hit their highest in three months on Wednesday, following news that U.S. and Chinese trade officials marked a new round of talks with a “constructive” phone conversation.
White House economic adviser Larry Kudlow said the talks “went well” and the two sides were talking about a face-to-face meeting, but he warned there was no magic way to reach what has so far been an elusive deal.
London nickel rose as much as 2.1% to $12,970 a tonne, its highest since April 17, while Shanghai nickel jumped to 103,160 yuan ($14,982.21) a tonne, a three-month high. Both contracts have eased slightly later in the session.
In September 2017, Anglo Pacific Group PLC (LON:APF) entered into a royalty agreement with Brazilian Nickel Ltd (Brazilian Nickel) to acquire an initial 1% gross revenue royalty over the Piauí nickel-cobalt project.