Base metals prices on the London Metal Exchange were broadly lower during morning trading on Tuesday May 1, with tin the only metal to buck the trend.
The complex is trading at lower volumes over the morning, with Chinese markets closed for a national holiday. Nickel's three-month price is drifting further from the $14,000 per tonne support level, reaching a low of $13,555 this morning. The metal's recent volatility is now easing into consolidation mode, yet prices remain within a comfortable range largely due to high demand from the electric vehicle sector. Zinc's three-month price is also trading back below $3,100 per tonne. The metal's stock picture is returning to familiar trends after record-braking deliveries into Antwerp's...