Three-month prices for base metals on the London Metal Exchange were mostly lower at the close of trading on Thursday September 3, with positive unemployment data and services data from the United States doing little to stop an equities-led decline across the complex.
A 4% downturn in LME nickel futures led that decline, and nickel's outright price on the LME was the laggard over Thursday afternoon, closing at $15,095 per tonne after falling from an intraday high of $15,810 per tonne. Turnover was high in nickel over the day, with more than 12,000 lots exchanged by the close."The sharp price correction [on Thursday] supports our view that prices are likely to become more mixed in the short term," Fastmarkets analyst James Moore said in his Nickel...