Base metals prices on the London Metal Exchange ended the first week of February on markedly positive figures, with nickel showing a day-on-day increase of 2% on Friday February 5 and zinc rising by nearly 4% since the start of the week, on a slowdown of the US Dollar Index.
Nickel's three-month price showed the biggest reaction to the Dollar Index during the day on Friday, rising by 2.1% to $18,029 per tonne at the 5pm close. Its Thursday closing price was $17,646 per tonne, around the level it had been for much of the week.Nickel's three-month price, together with the rest of the base-metals complex, had been subdued in the first week of February by the rising Dollar Index, which reached a high of 91.60 during...