The sell-off in the London Metal Exchange three-month nickel price continued on March 4, with the metal down to its lowest since November 2020 during early trading, with a higher US Dollar also dragging the rest of the complex down by an average of 2%.
The US Dollar was up to as much as 91.17 at 9am, from Wednesday's 5pm reading of 90.88, while the rise in yields of the US 10-year Treasury bonds to 1.5% and higher expectations of inflation have put base metal prices under pressure.While rising inflation usually boosts the value of commodities concurrent with denominating currencies losing value, the recent volatility spooked investors...